SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.72 Average Target Price from Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been given an average rating of "Reduce" by the twenty-nine analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $21.16.

SEDG has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday. Jefferies Financial Group lowered shares of SolarEdge Technologies from a "hold" rating to an "underperform" rating and dropped their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, November 7th. Barclays lowered their target price on SolarEdge Technologies from $17.00 to $7.00 and set an "underperform" rating for the company in a report on Friday, November 15th. Finally, StockNews.com raised SolarEdge Technologies to a "sell" rating in a report on Friday, November 8th.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 4,567 shares during the period. Tidal Investments LLC grew its position in SolarEdge Technologies by 19.7% during the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company's stock valued at $1,463,000 after purchasing an additional 10,515 shares in the last quarter. Geode Capital Management LLC increased its stake in SolarEdge Technologies by 3.7% in 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 stake in SolarEdge Technologies in the 3rd quarter worth approximately $278,000. Finally, Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies by 0.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock valued at $26,166,000 after buying an additional 3,400 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Down 14.8 %

SEDG stock traded down $2.60 during mid-day trading on Wednesday, hitting $14.99. 6,504,721 shares of the company were exchanged, compared to its average volume of 6,161,288. The company has a market capitalization of $868.67 million, a PE ratio of -0.52 and a beta of 1.56. The firm has a fifty day simple moving average of $14.13 and a 200 day simple moving average of $19.95. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $87.98.

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

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.