SolarEdge Technologies (NASDAQ:SEDG) Reaches New 12-Month Low at $48.41

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $48.41 and last traded at $48.41, with a volume of 1878256 shares changing hands. The stock had previously closed at $50.52.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SEDG shares. Royal Bank of Canada decreased their target price on shares of SolarEdge Technologies from $74.00 to $71.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 9th. Citigroup decreased their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "neutral" rating on the stock in a research report on Thursday, May 9th. Bank of America decreased their target price on shares of SolarEdge Technologies from $54.00 to $44.00 and set an "underperform" rating on the stock in a research report on Friday, May 10th. Susquehanna cut shares of SolarEdge Technologies from a "positive" rating to a "neutral" rating and decreased their target price for the company from $92.00 to $56.00 in a research report on Monday. Finally, Barclays upped their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an "underweight" rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $86.38.

SolarEdge Technologies Trading Down 4.2 %

The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $62.49 and a two-hundred day moving average of $72.79. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -10.82 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, research analysts expect that SolarEdge Technologies, Inc. will post -6.08 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company's stock valued at $327,566,000 after buying an additional 92,230 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock valued at $229,298,000 after buying an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock valued at $193,626,000 after buying an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of SolarEdge Technologies by 2.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company's stock valued at $71,543,000 after buying an additional 23,033 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of SolarEdge Technologies by 1.6% in the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company's stock valued at $88,890,000 after buying an additional 14,878 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Company Profile

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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