Solaredge Technologies (SEDG) Rating Lowered to Hold at BidaskClub

Solaredge Technologies (NASDAQ:SEDG) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

SEDG has been the topic of several other research reports. JPMorgan Chase & Co. upped their target price on shares of Solaredge Technologies from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 target price (up previously from $30.00) on shares of Solaredge Technologies in a research note on Monday, November 6th. Needham & Company LLC upped their target price on shares of Solaredge Technologies from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Roth Capital upped their target price on shares of Solaredge Technologies from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Finally, Vertical Group began coverage on shares of Solaredge Technologies in a report on Thursday, January 11th. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Solaredge Technologies presently has an average rating of “Buy” and a consensus price target of $34.19.

Solaredge Technologies (NASDAQ:SEDG) opened at $32.20 on Friday. The stock has a market cap of $1,385.02, a P/E ratio of 19.52, a PEG ratio of 0.69 and a beta of 0.03. Solaredge Technologies has a 52 week low of $12.75 and a 52 week high of $39.90.

Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. equities analysts expect that Solaredge Technologies will post 1.91 earnings per share for the current fiscal year.

In other Solaredge Technologies news, VP Lior Handelsman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $36.25, for a total transaction of $181,250.00. Following the completion of the sale, the vice president now directly owns 177,950 shares of the company’s stock, valued at $6,450,687.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Meir Adest sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $35.02, for a total transaction of $164,594.00. Following the sale, the vice president now directly owns 20,633 shares of the company’s stock, valued at $722,567.66. The disclosure for this sale can be found here. Insiders have sold 128,380 shares of company stock valued at $4,841,790 over the last three months. 16.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SEDG. American International Group Inc. purchased a new stake in Solaredge Technologies during the third quarter valued at approximately $123,000. Pinebridge Investments L.P. purchased a new stake in Solaredge Technologies during the third quarter valued at approximately $125,000. Baird Financial Group Inc. purchased a new stake in Solaredge Technologies during the fourth quarter valued at approximately $213,000. UBS Asset Management Americas Inc. purchased a new stake in Solaredge Technologies during the fourth quarter valued at approximately $218,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Solaredge Technologies during the third quarter valued at approximately $220,000. 67.09% of the stock is owned by institutional investors and hedge funds.

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About Solaredge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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