SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $14.00 to $26.00. Susquehanna currently has a neutral rating on the stock. SolarEdge Technologies traded as high as $31.31 and last traded at $30.76, with a volume of 3845356 shares traded. The stock had previously closed at $28.83.
Several other brokerages have also recently issued reports on SEDG. BNP Paribas Exane cut SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 target price on the stock. in a research report on Wednesday, July 16th. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. UBS Group raised their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company's stock. According to MarketBeat.com, SolarEdge Technologies has an average rating of "Hold" and an average target price of $17.92.
Check Out Our Latest Stock Report on SolarEdge Technologies
Hedge Funds Weigh In On SolarEdge Technologies
Several institutional investors have recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in SolarEdge Technologies by 14.9% during the 4th 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 buying an additional 641,915 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SolarEdge Technologies by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock worth $48,993,000 after purchasing an additional 126,246 shares during the period. Invesco Ltd. boosted its holdings in shares of SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after purchasing an additional 116,809 shares during the period. Ion Asset Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after purchasing an additional 1,199,801 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $17,909,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
SolarEdge Technologies Trading Down 4.4%
The stock has a market cap of $1.61 billion, a PE ratio of -0.90 and a beta of 1.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. The stock has a fifty day moving average price of $21.61 and a 200 day moving average price of $17.33.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. The firm had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.90) EPS. Equities analysts expect that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.
SolarEdge Technologies Company Profile
(
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.
Further Reading
Before you consider SolarEdge Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SolarEdge Technologies wasn't on the list.
While SolarEdge Technologies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access