SolarEdge Technologies (NASDAQ:SEDG) Upgraded at Glj Research

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by analysts at Glj Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $6.90 target price on the semiconductor company’s stock. Glj Research’s target price would suggest a potential downside of 61.19% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Northland Securities raised SolarEdge Technologies from an “under perform” rating to a “market perform” rating and set a $15.50 target price on the stock in a research note on Friday, May 23rd. Guggenheim reissued a “sell” rating and issued a $5.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. UBS Group cut their target price on SolarEdge Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company cut their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.56.

SolarEdge Technologies Trading Up 7.1%

Shares of SEDG opened at $17.78 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $50.83. The firm has a market capitalization of $1.05 billion, a PE ratio of -0.57 and a beta of 1.50. The stock’s fifty day simple moving average is $15.29 and its 200-day simple moving average is $14.94.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The business had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the firm posted ($1.90) earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts predict that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. grew its holdings in shares of SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock worth $26,000 after buying an additional 790 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Banque Cantonale Vaudoise bought a new position in shares of SolarEdge Technologies during the first quarter worth about $35,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,954 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

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.