SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $20.84 Average Price Target from Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been assigned an average rating of “Reduce” from the twenty-nine ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.84.

Several research analysts have commented on the company. Royal Bank of Canada cut their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. BMO Capital Markets cut their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Bank of America cut SolarEdge Technologies from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. Charles Schwab Investment Management Inc. lifted its position in shares of SolarEdge Technologies by 38.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company’s stock worth $7,085,000 after buying an additional 144,733 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares during the last quarter. RWC Asset Management LLP bought a new stake in SolarEdge Technologies during the fourth quarter worth $173,000. Meitav Investment House Ltd. boosted its position in SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 3,282 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in SolarEdge Technologies in the 4th quarter valued at $161,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 2.9 %

NASDAQ:SEDG opened at $14.76 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. SolarEdge Technologies has a one year low of $10.24 and a one year high of $87.98. The firm’s 50 day simple moving average is $14.19 and its 200 day simple moving average is $18.05. The company has a market cap of $855.34 million, a PE ratio of -0.51 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. 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, research analysts anticipate that SolarEdge Technologies will post -23.19 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.