SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $19.00 at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lifted by equities research analysts at Wells Fargo & Company from $15.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 26.75% from the company’s previous close.

Several other brokerages also recently weighed in on SEDG. TD Cowen cut their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada cut their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, November 7th. Roth Mkm dropped their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group reduced their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $21.16.

SolarEdge Technologies Trading Down 14.8 %

Shares of SEDG stock opened at $14.99 on Tuesday. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $87.98. The company has a 50 day moving average price of $14.09 and a 200 day moving average price of $19.92. The stock has a market capitalization of $868.67 million, a P/E ratio of -0.52 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. During the same quarter last year, the firm earned ($1.03) EPS. The business’s revenue was down 64.0% on a year-over-year basis. Equities research analysts predict that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in SolarEdge Technologies by 23.7% during the second quarter. Bank of New York Mellon Corp now owns 357,830 shares of the semiconductor company’s stock worth $9,039,000 after buying an additional 68,444 shares in the last quarter. Rhumbline Advisers lifted its position in shares of SolarEdge Technologies by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 104,092 shares of the semiconductor company’s stock valued at $2,629,000 after acquiring an additional 3,572 shares during the period. Quest Partners LLC purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter worth approximately $294,000. Dimensional Fund Advisors LP grew its holdings in shares of SolarEdge Technologies by 42.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 151,099 shares of the semiconductor company’s stock worth $3,817,000 after acquiring an additional 45,130 shares during the period. Finally, Quantbot Technologies LP purchased a new position in SolarEdge Technologies in the 2nd quarter valued at approximately $4,391,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.