Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report) hit a new 52-week low on Monday after B. Riley lowered their price target on the stock from $133.00 to $124.00. B. Riley currently has a buy rating on the stock. SolarEdge Technologies traded as low as $54.01 and last traded at $54.15, with a volume of 725072 shares traded. The stock had previously closed at $55.80.
Other equities research analysts have also issued research reports about the company. Truist Financial reduced their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada dropped their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Thursday, December 28th. Finally, The Goldman Sachs Group dropped their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.38.
Insider Transactions at SolarEdge Technologies
In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.17% of the company’s stock.
Hedge Funds Weigh In On SolarEdge Technologies
Several institutional investors have recently modified their holdings of SEDG. Altshuler Shaham Ltd boosted its holdings in shares of SolarEdge Technologies by 143.8% in the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock worth $2,701,000 after acquiring an additional 12,302 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after acquiring an additional 103,293 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after acquiring an additional 1,101 shares during the period. Meitav Investment House Ltd. boosted its holdings in shares of SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after acquiring an additional 99,681 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares during the period. 95.10% of the stock is owned by institutional investors.
SolarEdge Technologies Stock Down 2.3 %
The stock has a fifty day moving average price of $68.82 and a 200 day moving average price of $78.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The stock has a market capitalization of $3.11 billion, a P/E ratio of 121.13 and a beta of 1.51.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. On average, research analysts forecast that SolarEdge Technologies, Inc. will post -4.11 earnings per share for the current year.
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.