SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $18.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price objective boosted by Canaccord Genuity Group from $16.00 to $18.00 in a research note published on Tuesday,Benzinga reports. They currently have a hold rating on the semiconductor company's stock.

A number of other analysts have also recently weighed in on SEDG. Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Citigroup reduced their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets reduced their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating on the stock in a research note on Thursday, November 7th. Susquehanna reduced their price objective on SolarEdge Technologies from $20.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Roth Mkm reduced their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.72.

SolarEdge Technologies Stock Performance

Shares of SEDG traded up $1.30 on Tuesday, reaching $17.59. 7,775,701 shares of the stock traded hands, compared to its average volume of 6,074,512. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $87.98. The stock's 50-day moving average price is $14.13 and its 200-day moving average price is $19.95.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business's revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.03) earnings per share. Equities analysts forecast that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares of the company's stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently bought and sold shares of SEDG. KBC Group NV grew its position in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after buying an additional 1,378 shares in the last quarter. GAMMA Investing LLC raised its stake in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after buying an additional 4,567 shares during the last quarter. US Bancorp DE raised its stake in shares of SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after purchasing an additional 4,834 shares during the last quarter. GFG Capital LLC purchased a new position in shares of SolarEdge Technologies in the third quarter worth about $229,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in SolarEdge Technologies during the third quarter worth about $278,000. Institutional investors own 95.10% of the company's stock.

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.