SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $83.00 to $71.00. Citigroup currently has a neutral rating on the stock. SolarEdge Technologies traded as low as $51.91 and last traded at $52.64, with a volume of 1619916 shares trading hands. The stock had previously closed at $57.55.
A number of other equities research analysts also recently issued reports on the stock. Scotiabank cut their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 21st. Janney Montgomery Scott lowered shares of SolarEdge Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, March 22nd. DZ Bank initiated coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They set a "hold" rating and a $62.00 price target on the stock. Susquehanna dropped their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a "positive" rating on the stock in a research note on Friday, April 5th. Finally, Canaccord Genuity Group initiated coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They set a "hold" rating and a $80.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $93.73.
Get Our Latest Stock Report on SolarEdge Technologies
Insider Activity at SolarEdge Technologies
In related news, Director More Avery purchased 7,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.17% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd lifted its position in shares of SolarEdge Technologies by 143.8% in the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company's stock worth $2,701,000 after purchasing an additional 12,302 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company's stock worth $9,716,000 after purchasing an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. raised its position in SolarEdge Technologies by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company's stock worth $2,782,000 after acquiring an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. raised its position in SolarEdge Technologies by 27.2% during the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company's stock worth $61,231,000 after acquiring an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company's stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 95.10% of the company's stock.
SolarEdge Technologies Price Performance
The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company's 50-day simple moving average is $64.59 and its 200-day simple moving average is $74.00. The stock has a market capitalization of $3.02 billion, a P/E ratio of 117.04 and a beta of 1.53.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, sell-side analysts expect that SolarEdge Technologies, Inc. will post -4.68 EPS for the current fiscal year.
About SolarEdge Technologies
(
Get Free Report)
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.
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