SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Strong-Buy at Glj Research

Glj Research upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a strong sell rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on SEDG. William Blair initiated coverage on SolarEdge Technologies in a research note on Thursday, August 29th. They set a "market perform" rating on the stock. Bank of America downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating for the company in a report on Thursday, November 7th. Piper Sandler lowered shares of SolarEdge Technologies from a "neutral" rating to an "underweight" rating and cut their target price for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. Finally, Truist Financial decreased their price target on shares of SolarEdge Technologies from $20.00 to $15.00 and set a "hold" rating for the company in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of "Hold" and a consensus target price of $22.40.

SolarEdge Technologies Trading Up 12.7 %

NASDAQ:SEDG traded up $1.66 during midday trading on Tuesday, reaching $14.77. 7,356,548 shares of the stock traded hands, compared to its average volume of 3,742,864. The stock has a market capitalization of $855.92 million, a P/E ratio of -0.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company has a fifty day moving average of $14.79 and a 200 day moving average of $22.78. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $100.50.

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

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 156,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the purchase, the chairman now directly owns 244,478 shares of the company's stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of SEDG. Tidal Investments LLC boosted its holdings in SolarEdge Technologies by 19.7% in the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company's stock worth $1,463,000 after purchasing an additional 10,515 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock valued at $16,227,000 after buying an additional 25,474 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth $278,000. Two Sigma Advisers LP grew its holdings in shares of SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock worth $26,166,000 after acquiring an additional 3,400 shares during the period. Finally, Soros Fund Management LLC purchased a new stake in SolarEdge Technologies during the third quarter valued at $5,293,000. 95.10% of the stock is currently owned by institutional investors.

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.