SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up to $25.05

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Free Report) gapped up before the market opened on Monday . The stock had previously closed at $25.05, but opened at $26.31. SolarEdge Technologies shares last traded at $26.94, with a volume of 912,776 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Northland Securities lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 2nd. Northland Capmk lowered SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. DZ Bank started coverage on SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective on the stock. Finally, Roth Mkm lowered their target price on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.19.

Check Out Our Latest Analysis on SolarEdge Technologies

SolarEdge Technologies Trading Down 1.8 %

The company has a 50-day moving average of $43.11 and a two-hundred day moving average of $61.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. On average, equities analysts anticipate that SolarEdge Technologies, Inc. will post -6.52 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its holdings in shares of SolarEdge Technologies by 3,750.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after purchasing an additional 45,000 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of SolarEdge Technologies by 19.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 19,050 shares of the semiconductor company’s stock worth $1,353,000 after purchasing an additional 3,107 shares during the period. PGGM Investments raised its holdings in shares of SolarEdge Technologies by 32.2% in the 1st quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock worth $37,666,000 after purchasing an additional 129,142 shares during the period. Swedbank AB purchased a new position in shares of SolarEdge Technologies in the 1st quarter worth about $261,312,000. Finally, Tidal Investments LLC raised its holdings in shares of SolarEdge Technologies by 251.0% in the 1st quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock worth $4,081,000 after purchasing an additional 41,116 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

(Get Free Report)

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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