SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Glj Research

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by research analysts at Glj Research from a "strong sell" rating to a "hold" rating in a research note issued on Friday, MarketBeat.com reports. The firm presently has a $6.90 price target on the semiconductor company's stock. Glj Research's price target indicates a potential downside of 61.19% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Roth Mkm upped their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price on the stock in a report on Friday, May 23rd. Wells Fargo & Company reduced their target price on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group upped their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a "hold" rating in a research note on Wednesday, May 7th. Finally, UBS Group cut their price target on SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and an average target price of $16.56.

SolarEdge Technologies Trading Up 7.1%

SEDG traded up $1.18 during midday trading on Friday, reaching $17.78. 3,927,863 shares of the company's stock traded hands, compared to its average volume of 4,602,174. The firm has a fifty day moving average of $15.29 and a two-hundred day moving average of $14.94. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -0.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $50.83.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its 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 return on equity of 95.05% and a negative net margin of 192.13%. 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 prior year, the business earned ($1.90) EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery bought 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Point72 Asset Management L.P. purchased a new position in shares of SolarEdge Technologies in the fourth quarter valued at about $17,909,000. Ion Asset Management Ltd. lifted its position in shares of SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after buying an additional 1,199,801 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of SolarEdge Technologies by 10,038.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock worth $17,945,000 after buying an additional 1,098,284 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in SolarEdge Technologies by 67.6% during the fourth 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 during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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.