SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up After Analyst Upgrade

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price gapped up prior to trading on Monday after Jefferies Financial Group raised their price target on the stock from $10.00 to $18.00. The stock had previously closed at $25.62, but opened at $26.66. Jefferies Financial Group currently has an underperform rating on the stock. SolarEdge Technologies shares last traded at $26.57, with a volume of 1,006,893 shares changing hands.

SEDG has been the topic of several other research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. KeyCorp raised SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. cut their target price on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Barclays raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $12.00 to $29.00 in a research note on Monday. Eleven analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies has an average rating of "Hold" and a consensus price target of $17.61.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently added to or reduced their stakes in SEDG. Fifth Third Bancorp lifted its holdings in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 790 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in SolarEdge Technologies by 60.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at $27,000. Jones Financial Companies Lllp raised its holdings in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in SolarEdge Technologies in the 1st quarter valued at $35,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -0.84 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 company has a fifty day simple moving average of $20.50 and a two-hundred day simple moving average of $16.76.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm had revenue of $219.48 million for the quarter, compared to analysts' expectations of $205.39 million. During the same quarter in the previous year, the business posted ($1.90) earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

SolarEdge Technologies Company Profile

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.