SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price objective reduced by B. Riley from $133.00 to $124.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the semiconductor company's stock.
Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an equal weight rating for the company in a research note on Thursday, February 22nd. Piper Sandler dropped their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada dropped their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a sector perform rating on the stock in a report on Wednesday, February 21st. Scotiabank dropped their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating on the stock in a report on Wednesday, February 21st. Finally, DZ Bank started coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They issued a hold rating and a $62.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $98.38.
Check Out Our Latest Analysis on SEDG
SolarEdge Technologies Stock Down 2.3 %
Shares of SEDG stock traded down $1.29 on Monday, hitting $54.51. The company's stock had a trading volume of 2,482,840 shares, compared to its average volume of 2,403,757. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies has a fifty-two week low of $53.59 and a fifty-two week high of $321.33. The firm's fifty day moving average price is $68.82 and its 200-day moving average price is $78.74. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 121.13 and a beta of 1.51.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (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 business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. Research analysts anticipate that SolarEdge Technologies will post -4.11 EPS for the current year.
Insider Transactions at SolarEdge Technologies
In related news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company's stock, valued at $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is owned by company insiders.
Institutional Investors Weigh In On SolarEdge Technologies
Several large investors have recently bought and sold shares of SEDG. CWM LLC increased its position in shares of SolarEdge Technologies by 94.0% during the third quarter. CWM LLC now owns 648 shares of the semiconductor company's stock worth $84,000 after acquiring an additional 314 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in SolarEdge Technologies in the third quarter valued at $638,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in SolarEdge Technologies in the third quarter valued at $285,000. SG Americas Securities LLC lifted its stake in SolarEdge Technologies by 40.2% in the third quarter. SG Americas Securities LLC now owns 14,446 shares of the semiconductor company's stock valued at $1,871,000 after acquiring an additional 4,143 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its stake in SolarEdge Technologies by 159.4% in the third quarter. Everence Capital Management Inc. now owns 4,540 shares of the semiconductor company's stock valued at $588,000 after acquiring an additional 2,790 shares during the last quarter. Institutional investors own 95.10% of the company's stock.
About SolarEdge Technologies
(
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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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