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Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $20.84

SolarEdge Technologies logo with Oils/Energy background

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given an average rating of "Reduce" by the twenty-nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.84.

A number of research analysts have recently commented on the company. Bank of America downgraded SolarEdge Technologies from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Mizuho downgraded shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. Citigroup reissued a "sell" rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $9.00 target price (down from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th.

Get Our Latest Stock Analysis on SEDG

SolarEdge Technologies Stock Up 3.2 %

Shares of NASDAQ:SEDG traded up $0.45 during trading on Friday, hitting $14.34. The company's stock had a trading volume of 3,784,059 shares, compared to its average volume of 4,087,555. The company has a market capitalization of $831.00 million, a PE ratio of -0.49 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. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $87.98. The business has a 50 day moving average price of $14.19 and a two-hundred day moving average price of $18.07.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released 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 previous year, the company posted ($1.03) earnings per share. The firm's quarterly revenue was down 64.0% on a year-over-year basis. As a group, research analysts expect that SolarEdge Technologies will post -23.19 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares of the company's stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SEDG. AMG National Trust Bank purchased a new stake in SolarEdge Technologies in the 3rd quarter valued at about $4,055,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company's stock valued at $5,786,000 after purchasing an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC grew its position in shares of SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company's stock worth $4,315,000 after buying an additional 163,340 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock valued at $13,340,000 after acquiring an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth about $1,495,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

(Get Free Report

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.

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