SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Neutral at Guggenheim

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by analysts at Guggenheim from a "sell" rating to a "neutral" rating in a research note issued on Wednesday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on the stock. Citigroup lowered their price objective on shares of SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group decreased their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. StockNews.com upgraded SolarEdge Technologies to a "sell" rating in a research report on Friday, November 8th. Finally, Truist Financial decreased their price target on SolarEdge Technologies from $20.00 to $15.00 and set a "hold" rating on the stock in a report on Friday, November 8th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.79.

SolarEdge Technologies Price Performance

Shares of SEDG traded up $0.40 during trading hours on Wednesday, hitting $10.87. The stock had a trading volume of 5,504,037 shares, compared to its average volume of 3,593,423. The stock has a market capitalization of $629.92 million, a price-to-earnings ratio of -0.39 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The company's fifty day moving average is $17.90 and its two-hundred day moving average is $28.21. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $272.80 million. During the same period in the prior year, the company posted ($1.03) earnings per share. SolarEdge Technologies's quarterly revenue was down 64.0% compared to the same quarter last year. On average, analysts anticipate that SolarEdge Technologies will post -17.69 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies in the second quarter valued at $28,000. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies in the first quarter worth approximately $64,000. KBC Group NV increased its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after acquiring an additional 1,378 shares in the last quarter. First Pacific Financial raised its holdings in shares of SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company's stock valued at $132,000 after purchasing an additional 1,805 shares during the period. Finally, US Bancorp DE boosted its holdings in 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 acquiring an additional 4,834 shares in the last quarter. 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.