SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) shares traded up 7.6% during mid-day trading on Tuesday . The company traded as high as $17.10 and last traded at $17.29. 1,206,843 shares traded hands during trading, a decline of 75% from the average session volume of 4,802,046 shares. The stock had previously closed at $16.06.
Wall Street Analyst Weigh In
SEDG has been the topic of several recent research reports. Northland Capmk raised shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered 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. Guggenheim reiterated a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Morgan Stanley restated an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Twelve investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and an average price target of $16.12.
Read Our Latest Analysis on SolarEdge Technologies
SolarEdge Technologies Stock Performance
The company has a market cap of $1.17 billion, a PE ratio of -0.65 and a beta of 1.59. 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 firm's 50 day moving average is $17.04 and its 200-day moving average is $15.68.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly 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. The business had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The business's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.90) earnings per share. On average, research analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.
Institutional Investors Weigh In On SolarEdge Technologies
A number of hedge funds have recently modified their holdings of SEDG. Fifth Third Bancorp boosted its holdings in SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of SolarEdge Technologies by 60.0% during 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 buying an additional 600 shares during the period. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its position in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in SolarEdge Technologies in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
SolarEdge Technologies Company Profile
(
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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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