Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) traded up 7% during mid-day trading on Friday . The stock traded as high as $27.23 and last traded at $27.03. 2,183,477 shares traded hands during trading, a decline of 53% from the average session volume of 4,682,777 shares. The stock had previously closed at $25.26.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on SEDG. KeyCorp raised shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. Glj Research cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 target price on the stock. in a report on Tuesday, June 17th. Jefferies Financial Group boosted their target price on SolarEdge Technologies from $10.00 to $18.00 and gave the stock an "underperform" rating in a research report on Monday, July 14th. Finally, BNP Paribas upgraded SolarEdge Technologies to a "strong sell" rating in a research report on Wednesday, July 16th. Eleven analysts have rated the stock with a sell rating and eighteen have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.92.
Check Out Our Latest Report on SolarEdge Technologies
SolarEdge Technologies Stock Up 10.5%
The firm's 50-day moving average is $20.77 and its 200 day moving average is $16.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -1.06 and a beta of 1.62.
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 for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the previous year, the company earned ($1.90) earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in SolarEdge Technologies during the fourth quarter worth approximately $17,909,000. Ion Asset Management Ltd. increased its holdings in 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 valued at $33,695,000 after buying an additional 1,199,801 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in SolarEdge Technologies by 10,038.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock worth $17,945,000 after acquiring an additional 1,098,284 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of SolarEdge Technologies by 14.9% in 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 acquiring an additional 641,915 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after acquiring an additional 512,035 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.
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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