SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up – Should You Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.93, but opened at $22.77. SolarEdge Technologies shares last traded at $21.33, with a volume of 9,086,300 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on SEDG. The Goldman Sachs Group upped their price target on SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target 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. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $11.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.84.

SolarEdge Technologies Stock Performance

The stock has a fifty day moving average of $14.30 and a 200-day moving average of $17.27. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.26 billion, a PE ratio of -0.75 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, February 19th. The semiconductor company reported ($3.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($2.45). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -22.99 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently bought and sold shares of SEDG. PharVision Advisers LLC acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SolarEdge Technologies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock worth $3,282,000 after purchasing an additional 15,549 shares during the period. Voloridge Investment Management LLC raised its stake in shares of SolarEdge Technologies by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock worth $11,780,000 after buying an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at approximately $816,000. Finally, Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies by 1.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after buying an additional 18,300 shares in the last quarter. Hedge funds and other 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.