SolarEdge Technologies, Inc. (NASDAQ:SEDG) Short Interest Update

SolarEdge Technologies, Inc. (NASDAQ:SEDG) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 16,120,000 shares, an increase of 36.1% from the June 15th total of 11,840,000 shares. Based on an average daily volume of 3,370,000 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SEDG. Northland Securities lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, May 10th. TD Cowen reduced their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $73.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Finally, DZ Bank started coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective for the company. Three analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.42.

SolarEdge Technologies Stock Performance

Shares of SEDG traded down $3.81 during trading hours on Monday, hitting $27.84. The company had a trading volume of 4,104,350 shares, compared to its average volume of 2,996,765. The business has a fifty day moving average of $41.37 and a 200-day moving average of $60.18. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.86 and a beta of 1.52. SolarEdge Technologies has a 12 month low of $23.51 and a 12 month high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) 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 company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. Equities analysts anticipate that SolarEdge Technologies will post -6.52 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Cabot Wealth Management Inc. lifted its holdings in shares of SolarEdge Technologies by 7.8% during the second quarter. Cabot Wealth Management Inc. now owns 29,452 shares of the semiconductor company’s stock worth $744,000 after buying an additional 2,127 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in SolarEdge Technologies by 3,750.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after acquiring an additional 45,000 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in 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 in the last quarter. PGGM Investments boosted its holdings in SolarEdge Technologies by 32.2% in the 1st quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock valued at $37,666,000 after purchasing an additional 129,142 shares during the period. Finally, Swedbank AB acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $261,312,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.