SolarEdge Technologies (NASDAQ:SEDG) Trading Up 7.8%

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price rose 7.8% during mid-day trading on Wednesday . The company traded as high as $52.71 and last traded at $52.28. Approximately 1,020,783 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 2,365,258 shares. The stock had previously closed at $48.48.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $75.00 to $58.00 and set a "hold" rating for the company in a research note on Thursday, May 9th. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, March 22nd. Bank of America reduced their price objective on shares of SolarEdge Technologies from $54.00 to $44.00 and set an "underperform" rating for the company in a research report on Friday, May 10th. Susquehanna downgraded shares of SolarEdge Technologies from a "positive" rating to a "neutral" rating and reduced their price objective for the stock from $92.00 to $56.00 in a research report on Monday, May 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of SolarEdge Technologies from $64.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $86.38.

SolarEdge Technologies Trading Up 9.0 %

The company has a fifty day moving average of $60.95 and a two-hundred day moving average of $72.20. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -11.01 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts' expectations of $319.97 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, research analysts expect that SolarEdge Technologies, Inc. will post -6.08 EPS for the current year.

Insider Activity

In related news, Director More Avery bought 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 of the company's stock, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth approximately $25,000. Manchester Capital Management LLC raised its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. GAMMA Investing LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock worth $36,000 after buying an additional 183 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company's stock worth $50,000 after buying an additional 640 shares in the last quarter. 95.10% of the stock is currently owned by 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.