Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $20.84

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given an average rating of “Reduce” by the twenty-nine ratings firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.84.

Several brokerages recently issued reports on SEDG. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Truist Financial cut their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th.

SolarEdge Technologies Stock Up 4.0 %

Shares of NASDAQ SEDG opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The company has a 50-day moving average price of $14.20 and a 200-day moving average price of $18.10. The stock has a market capitalization of $804.93 million, a P/E ratio of -0.48 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The company had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.03) EPS. On average, equities research analysts forecast that SolarEdge Technologies will post -23.19 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SEDG. Y.D. More Investments Ltd boosted its stake in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 2,770 shares during the period. R Squared Ltd bought a new position in SolarEdge Technologies in the 4th quarter worth about $61,000. KBC Group NV boosted its stake in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. GAMMA Investing LLC boosted its position in shares of SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

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.