Wall Street Zen upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a sell rating to a hold rating in a research note published on Saturday.
Several other analysts have also recently weighed in on SEDG. Mizuho increased their price target on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. UBS Group increased their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Barclays upgraded shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $12.00 to $29.00 in a report on Monday, July 14th. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. Finally, Roth Capital upped their price target on shares of SolarEdge Technologies from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Ten analysts have rated the stock with a sell rating and nineteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.70.
Check Out Our Latest Analysis on SolarEdge Technologies
SolarEdge Technologies Stock Up 3.9%
NASDAQ SEDG traded up $0.99 on Friday, hitting $26.09. The stock had a trading volume of 1,782,016 shares, compared to its average volume of 4,815,891. The business's fifty day moving average price is $23.57 and its 200 day moving average price is $18.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.94 and a quick ratio of 1.42. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $32.45. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -0.88 and a beta of 1.56.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.81). SolarEdge Technologies had a negative net margin of 177.64% and a negative return on equity of 191.53%. The company had revenue of $289.43 million during the quarter, compared to analysts' expectations of $270.03 million. During the same quarter in the prior year, the company earned ($1.79) EPS. SolarEdge Technologies's revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of SolarEdge Technologies by 24.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 7,285 shares of the semiconductor company's stock worth $149,000 after purchasing an additional 1,431 shares during the period. Quadrature Capital Ltd raised its position in SolarEdge Technologies by 167.7% during the second quarter. Quadrature Capital Ltd now owns 52,447 shares of the semiconductor company's stock valued at $1,069,000 after acquiring an additional 32,855 shares in the last quarter. XTX Topco Ltd bought a new position in SolarEdge Technologies during the second quarter valued at approximately $1,659,000. American Century Companies Inc. raised its position in shares of SolarEdge Technologies by 557.3% in the second quarter. American Century Companies Inc. now owns 139,997 shares of the semiconductor company's stock valued at $2,856,000 after purchasing an additional 118,699 shares during the period. Finally, Rhumbline Advisers raised its position in shares of SolarEdge Technologies by 3.9% in the second quarter. Rhumbline Advisers now owns 81,492 shares of the semiconductor company's stock valued at $1,662,000 after purchasing an additional 3,032 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.
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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