Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $16.32

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received an average recommendation of “Reduce” from the twenty-seven ratings firms that are currently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.44.

Several analysts recently commented on the company. Wells Fargo & Company reduced their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley restated an “underweight” rating and set a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Canaccord Genuity Group increased their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a report on Wednesday, May 7th. Royal Bank of Canada increased their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 14th.

Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of the stock. Caxton Associates LLP bought a new position in SolarEdge Technologies during the 1st quarter valued at $4,164,000. Goldman Sachs Group Inc. lifted its stake in SolarEdge Technologies by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company’s stock valued at $16,147,000 after acquiring an additional 79,461 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in SolarEdge Technologies by 5,736.7% during the 1st quarter. Jones Financial Companies Lllp now owns 142,474 shares of the semiconductor company’s stock valued at $2,305,000 after acquiring an additional 140,033 shares in the last quarter. Interval Partners LP lifted its stake in SolarEdge Technologies by 249.4% during the 1st quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company’s stock valued at $1,236,000 after acquiring an additional 54,523 shares in the last quarter. Finally, Ion Asset Management Ltd. lifted its stake in SolarEdge Technologies by 135.9% during the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company’s stock valued at $33,695,000 after acquiring an additional 1,199,801 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $22.02 on Tuesday. The business’s 50 day simple moving average is $15.06 and its 200 day simple moving average is $14.77. SolarEdge Technologies has a one year low of $10.24 and a one year high of $53.58. The stock has a market capitalization of $1.30 billion, a PE ratio of -0.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The business had revenue of $219.48 million for the quarter, compared to analysts’ expectations of $205.39 million. During the same period in the prior year, the business posted ($1.90) earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts forecast that SolarEdge Technologies will post -4.54 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.