SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 7.5%

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price rose 7.5% on Thursday . The company traded as high as $73.60 and last traded at $73.52. Approximately 870,701 shares changed hands during trading, a decline of 65% from the average daily volume of 2,480,713 shares. The stock had previously closed at $68.39.

Analysts Set New Price Targets

SEDG has been the subject of a number of research analyst reports. Scotiabank reduced their price objective 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 report on Friday, March 22nd. BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 21st. Barclays reiterated an "underweight" rating and issued a $50.00 price objective (down previously from $74.00) on shares of SolarEdge Technologies in a report on Wednesday, January 17th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $109.69.

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 stock has a 50 day moving average price of $70.81 and a two-hundred day moving average price of $85.02. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 152.82 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, analysts expect that SolarEdge Technologies, Inc. will post -3.94 EPS for the current year.

Insider Activity at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Baillie Gifford & Co. lifted its holdings in SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock worth $229,298,000 after buying an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock worth $193,626,000 after buying an additional 778,034 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of SolarEdge Technologies by 371.8% during the fourth quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company's stock worth $62,293,000 after purchasing an additional 524,476 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $42,644,000. Finally, Norges Bank acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $39,547,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.