SolarEdge Technologies (NASDAQ:SEDG) Trading Up 4.6% - Time to Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price shot up 4.6% during mid-day trading on Wednesday . The company traded as high as $15.71 and last traded at $15.03. 1,401,973 shares traded hands during trading, a decline of 62% from the average session volume of 3,686,596 shares. The stock had previously closed at $14.37.

Analyst Ratings Changes

Several research analysts have recently commented on SEDG shares. JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group raised SolarEdge Technologies from a "sell" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $19.00 in a research note on Tuesday. UBS Group dropped their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. TD Cowen cut their target price on shares of SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. Finally, Susquehanna lowered their price target on shares of SolarEdge Technologies from $20.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Eight analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and a consensus target price of $22.40.

SolarEdge Technologies Price Performance

The firm's 50 day moving average is $14.89 and its 200 day moving average is $22.85. The firm has a market cap of $802.03 million, a P/E ratio of -0.48 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 (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results 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). The company 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%. SolarEdge Technologies's revenue was down 64.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.03) earnings per share. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current 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 stock was bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in SolarEdge Technologies during the second quarter valued at approximately $36,627,000. Two Sigma Advisers LP grew its stake in shares of SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock worth $26,166,000 after buying an additional 3,400 shares in the last quarter. M&G PLC grew its position in SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock worth $21,452,000 after acquiring an additional 38,001 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SolarEdge Technologies by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock worth $16,227,000 after purchasing an additional 25,474 shares during the period. Finally, Meitav Investment House Ltd. boosted its stake in SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock worth $13,340,000 after buying an additional 51,065 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.