SolarEdge Technologies (NASDAQ:SEDG) Trading Up 7% - Time to Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price shot up 7% on Friday . The company traded as high as $27.23 and last traded at $27.03. 2,183,477 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 4,682,777 shares. The stock had previously closed at $25.26.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SEDG shares. JPMorgan Chase & Co. restated a "neutral" rating and set a $23.00 price target (up from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. Wells Fargo & Company lowered their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. Glj Research lowered shares of 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. Finally, Morgan Stanley restated an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $17.36.

SolarEdge Technologies Stock Performance

The stock has a market capitalization of $1.71 billion, a PE ratio of -0.97 and a beta of 1.62. 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 business's fifty day moving average price is $20.77 and its 200-day moving average price is $16.97.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the firm posted ($1.90) EPS. SolarEdge Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SEDG. Edmond DE Rothschild Holding S.A. lifted its stake 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 worth $26,000 after buying an additional 600 shares during the last quarter. Fifth Third Bancorp grew its position in SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after buying an additional 790 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $27,000. Banque Cantonale Vaudoise purchased a new position in shares of SolarEdge Technologies during the 1st quarter worth approximately $35,000. Finally, Public Employees Retirement System of Ohio lifted its position in SolarEdge Technologies by 21.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.