SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) traded down 4.8% during trading on Friday after Susquehanna lowered their price target on the stock from $97.00 to $92.00. Susquehanna currently has a positive rating on the stock. SolarEdge Technologies traded as low as $65.40 and last traded at $65.46. 715,558 shares were traded during trading, a decline of 71% from the average session volume of 2,470,864 shares. The stock had previously closed at $68.77.
SEDG has been the topic of a number of other reports. The Goldman Sachs Group cut their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating for the company in a research report on Wednesday, January 24th. Barclays reissued an "underweight" rating and issued a $50.00 price target (down previously from $74.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 17th. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They issued a "hold" rating and a $80.00 target price for the company. Truist Financial reduced their target price on SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 22nd. Finally, Roth Mkm lifted their price target on SolarEdge Technologies from $60.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $109.50.
Read Our Latest Stock Analysis on SolarEdge Technologies
Insider Buying and Selling at SolarEdge Technologies
In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.17% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd lifted its holdings in shares of SolarEdge Technologies by 143.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company's stock valued at $2,701,000 after purchasing an additional 12,302 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of 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 buying an additional 1,101 shares during the period. Meitav Investment House Ltd. raised its holdings in shares of SolarEdge Technologies by 27.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company's stock valued at $61,231,000 after buying an additional 99,681 shares during the period. Compagnie Lombard Odier SCmA lifted its position in shares of 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 purchasing an additional 500 shares in the last quarter. Finally, Janney Capital Management LLC increased its position in shares of SolarEdge Technologies by 112.2% during the third quarter. Janney Capital Management LLC now owns 38,910 shares of the semiconductor company's stock worth $5,039,000 after acquiring an additional 20,577 shares during the period. Institutional investors own 95.10% of the company's stock.
SolarEdge Technologies Price Performance
The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 152.82 and a beta of 1.51. The stock's fifty day moving average price is $70.81 and its two-hundred day moving average price is $85.02. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.
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 analysts' consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analysts' expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities research analysts expect that SolarEdge Technologies, Inc. will post -3.94 EPS for the current 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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