SolarEdge Technologies Inc. (SEDG) Now Covered by Analysts at Axiom Securities
Equities research analysts at Axiom Securities started 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.
A number of other equities analysts also recently weighed in on SEDG. FBR & Co reissued a “buy” rating and set a $38.00 price target on shares of SolarEdge Technologies in a research report on Thursday, June 16th. Barclays PLC reissued an “overweight” rating and set a $28.00 price target (down previously from $35.00) on shares of SolarEdge Technologies in a research report on Tuesday, June 21st. Needham & Company LLC reissued a “buy” rating on shares of SolarEdge Technologies in a research report on Monday, June 27th. JPMorgan Chase & Co. set a $31.00 price target on SolarEdge Technologies and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Deutsche Bank AG reduced their price objective on SolarEdge Technologies from $27.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $25.09.
Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 15.30 on Friday. The company has a market cap of $625.74 million, a P/E ratio of 8.84 and a beta of -0.44. The firm has a 50 day moving average price of $16.45 and a 200-day moving average price of $19.98. SolarEdge Technologies has a 12 month low of $14.41 and a 12 month high of $30.50.
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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, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $124.80 million for the quarter, compared to the consensus estimate of $129.63 million. SolarEdge Technologies had a return on equity of 31.51% and a net margin of 15.64%. The business’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. Analysts anticipate that SolarEdge Technologies will post $1.89 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in SolarEdge Technologies during the first quarter valued at $2,410,000. Investec Asset Management LTD acquired a new stake in SolarEdge Technologies during the first quarter valued at $3,226,000. 1832 Asset Management L.P. acquired a new stake in SolarEdge Technologies during the first quarter valued at $23,183,000. State Street Corp boosted its stake in SolarEdge Technologies by 21.1% in the first quarter. State Street Corp now owns 9,200 shares of the company’s stock valued at $231,000 after buying an additional 1,600 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. acquired a new stake in SolarEdge Technologies during the first quarter valued at $1,986,000. Hedge funds and other institutional investors own 60.49% of the company’s stock.
About SolarEdge Technologies
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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