BidaskClub upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a hold rating to a buy rating in a report issued on Thursday.
Several other equities analysts have also commented on SEDG. Oppenheimer boosted their price target on Solaredge Technologies from $38.00 to $50.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Zacks Investment Research raised Solaredge Technologies from a hold rating to a strong-buy rating and set a $53.00 price target on the stock in a research report on Tuesday, February 20th. Vertical Group raised Solaredge Technologies from a hold rating to a buy rating in a research report on Thursday, February 15th. Deutsche Bank boosted their price target on Solaredge Technologies from $40.00 to $45.00 and gave the stock a hold rating in a research report on Thursday, February 15th. Finally, Vertical Research raised Solaredge Technologies from a hold rating to a buy rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $42.73.
Solaredge Technologies (NASDAQ SEDG) opened at $50.00 on Thursday. The company has a market capitalization of $2,194.55, a P/E ratio of 27.03, a P/E/G ratio of 0.85 and a beta of 0.03. Solaredge Technologies has a 52-week low of $13.50 and a 52-week high of $50.00.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.51 by $0.29. The firm had revenue of $189.34 million for the quarter, compared to analyst estimates of $179.78 million. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%. research analysts anticipate that Solaredge Technologies will post 2.45 EPS for the current year.
In other Solaredge Technologies news, VP Yoav Galin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.74, for a total value of $566,100.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Meir Adest sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $35.02, for a total value of $164,594.00. Following the completion of the transaction, the vice president now directly owns 20,633 shares in the company, valued at $722,567.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 416,914 shares of company stock worth $17,159,064. 16.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $102,000. Meadow Creek Investment Management LLC bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $109,000. American International Group Inc. bought a new stake in shares of Solaredge Technologies in the 3rd quarter valued at approximately $123,000. Pinebridge Investments L.P. bought a new stake in shares of Solaredge Technologies in the 3rd quarter valued at approximately $125,000. Finally, Elkfork Partners LLC bought a new stake in shares of Solaredge Technologies in the 4th quarter valued at approximately $190,000. Institutional investors and hedge funds own 63.13% of the company’s stock.
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About Solaredge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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