SolarEdge Technologies Inc. (SEDG) Coverage Initiated at Axiom Securities
Research analysts at Axiom Securities assumed coverage on shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) in a research report issued on Friday, The Fly reports. The brokerage set a “sell” rating on the stock.
Several other equities research analysts have also recently issued reports on the company. Goldman Sachs Group Inc. cut SolarEdge Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $19.00 to $12.00 in a report on Thursday, October 6th. JMP Securities reiterated a “buy” rating on shares of SolarEdge Technologies in a report on Friday, September 23rd. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 price objective on shares of SolarEdge Technologies in a report on Friday, September 23rd. Needham & Company LLC lowered their price objective on SolarEdge Technologies from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, September 14th. Finally, Barclays PLC cut SolarEdge Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, August 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.09.
Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 15.30 on Friday. SolarEdge Technologies has a one year low of $14.41 and a one year high of $30.50. The stock has a 50 day moving average price of $16.45 and a 200 day moving average price of $19.98. The stock has a market capitalization of $625.74 million, a P/E ratio of 8.84 and a beta of -0.44.
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SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. SolarEdge Technologies had a return on equity of 31.51% and a net margin of 15.64%. The firm earned $124.80 million during the quarter, compared to analyst estimates of $129.63 million. During the same quarter in the previous year, the business earned $0.31 EPS. SolarEdge Technologies’s revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts forecast that SolarEdge Technologies will post $1.89 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in SolarEdge Technologies by 45.4% in the first quarter. IFP Advisors Inc now owns 5,396 shares of the company’s stock worth $136,000 after buying an additional 1,686 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in SolarEdge Technologies by 26.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,815 shares of the company’s stock worth $171,000 after buying an additional 1,415 shares in the last quarter. Guinness Asset Management Ltd boosted its position in SolarEdge Technologies by 42.1% in the second quarter. Guinness Asset Management Ltd now owns 8,100 shares of the company’s stock worth $159,000 after buying an additional 2,400 shares in the last quarter. IPG Investment Advisors LLC acquired a new position in SolarEdge Technologies during the fourth quarter worth approximately $2,409,000. Finally, Barclays PLC boosted its position in SolarEdge Technologies by 2,421.4% in the first quarter. Barclays PLC now owns 8,825 shares of the company’s stock worth $221,000 after buying an additional 8,475 shares in the last quarter. Hedge funds and other institutional investors own 60.49% of the company’s stock.
SolarEdge Technologies Company Profile
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.
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