SolarEdge Technologies (NASDAQ:SEDG) Trading 7.5% Higher - Here's Why

Key Points

• SolarEdge shares climbed 7.5% to about $36.78 in midday trading, although volume was significantly below its average daily level.
• The company beat quarterly expectations, reporting $0.05 EPS versus a forecasted loss of $0.02 and revenue of $346.2 million, up 19.6% year over year. However, SolarEdge remains unprofitable, with a negative net margin of 20.29%.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a $38.36 price target, while institutional investors and hedge funds own approximately 95.1% of shares.

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price rose 7.5% on Tuesday . The company traded as high as $36.45 and last traded at $36.7820. Approximately 573,700 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,426,677 shares. The stock had previously closed at $34.20.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of analyst reports. Barclays cut their price objective on SolarEdge Technologies from $53.00 to $37.00 and set an "equal weight" rating for the company in a report on Thursday, August 6th. Glj Research reiterated a "sell" rating on shares of SolarEdge Technologies in a research report on Thursday, June 11th. Susquehanna cut their price target on shares of SolarEdge Technologies from $56.00 to $38.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada reduced their price target on shares of SolarEdge Technologies from $30.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 6th. Finally, TD Cowen dropped their price objective on shares of SolarEdge Technologies from $85.00 to $75.00 and set a "buy" rating for the company in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $38.36.

SolarEdge Technologies Stock Up 8.1%

The company has a market cap of $2.27 billion, a P/E ratio of -8.20 and a beta of 1.44. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $41.34 and a 200 day moving average price of $46.40.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%.The business had revenue of $346.20 million during the quarter, compared to analysts' expectations of $341.15 million. During the same period in the previous year, the business posted ($0.81) earnings per share. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -1.23 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of SolarEdge Technologies by 5,939.4% during the second quarter. California State Teachers Retirement System now owns 4,021,549 shares of the semiconductor company's stock valued at $235,019,000 after acquiring an additional 3,954,960 shares during the period. UBS Group AG increased its position in SolarEdge Technologies by 234.8% in the third quarter. UBS Group AG now owns 3,554,504 shares of the semiconductor company's stock worth $131,517,000 after purchasing an additional 2,492,776 shares during the period. Legal & General Group Plc acquired a new stake in SolarEdge Technologies in the second quarter worth about $76,095,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in SolarEdge Technologies during the 2nd quarter worth about $55,514,000. Finally, Electron Capital Partners LLC lifted its position in SolarEdge Technologies by 107.8% during the 3rd quarter. Electron Capital Partners LLC now owns 1,732,566 shares of the semiconductor company's stock valued at $64,105,000 after purchasing an additional 898,802 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

SolarEdge Technologies NASDAQ: SEDG is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company's core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge's technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.