By otakuyassine3@gmail.com 
The Goldman Sachs Group upgraded shares of SolarEdge Technologies (NASDAQ:SEDG – Free Report) from a sell rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat reports. They currently have $19.00 price objective on the semiconductor company’s stock, up from their prior price objective of $10.00.
Several other research analysts have also recently issued reports on SEDG. Mizuho cut SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. William Blair began coverage on SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Royal Bank of Canada dropped their price target on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. TD Cowen decreased their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Finally, Roth Mkm cut their price target on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Eight research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.40.
Check Out Our Latest Stock Report on SEDG
SolarEdge Technologies Stock Performance
Shares of SEDG stock opened at $13.11 on Tuesday. The company has a market cap of $759.72 million, a price-to-earnings ratio of -0.45 and a beta of 1.56. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $102.62. The firm has a 50 day moving average of $14.79 and a 200-day moving average of $22.78. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm’s revenue was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.03) EPS. On average, equities analysts forecast that SolarEdge Technologies will post -19.18 earnings per share for the current year.
Insider Buying and Selling
In other SolarEdge Technologies news, Chairman More Avery purchased 156,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, with a total value 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 approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.
Hedge Funds Weigh In On SolarEdge Technologies
Several institutional investors and hedge funds have recently bought and sold shares of SEDG. AMG National Trust Bank bought a new position in SolarEdge Technologies during the 3rd quarter valued at approximately $4,055,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SolarEdge Technologies by 683.1% during 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 buying an additional 220,304 shares during the period. Mizuho Markets Americas LLC raised its stake in SolarEdge Technologies by 653.4% in 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. lifted its holdings in SolarEdge Technologies by 9.6% in 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. Finally, DekaBank Deutsche Girozentrale bought a new stake in SolarEdge Technologies during the 3rd quarter valued at approximately $1,495,000. 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.
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