SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Rating of "Reduce" from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given an average rating of "Reduce" by the twenty-seven ratings firms that are covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.44.

A number of research analysts have weighed in on the company. Barclays raised their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Wednesday, April 16th. Northland Capmk lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Friday. Guggenheim reiterated a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank of Canada lifted their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded up $1.18 during trading on Tuesday, reaching $22.02. The company had a trading volume of 7,244,755 shares, compared to its average volume of 4,469,005. The firm's 50-day simple moving average is $15.06 and its 200 day simple moving average is $14.75. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $53.58. The firm has a market capitalization of $1.30 billion, a PE ratio of -0.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.90) EPS. As a group, equities research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SEDG. Point72 Asset Management L.P. acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $17,909,000. Ion Asset Management Ltd. boosted its holdings in SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock valued at $33,695,000 after purchasing an additional 1,199,801 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in SolarEdge Technologies by 10,038.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock valued at $17,945,000 after purchasing an additional 1,098,284 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after purchasing an additional 564,490 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

About SolarEdge Technologies

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.