Solaredge Technologies Inc (NASDAQ:SEDG) has received an average rating of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $150.42.
A number of brokerages have issued reports on SEDG. Goldman Sachs Group lowered Solaredge Technologies from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $120.00 to $126.00 in a research report on Wednesday, June 24th. Canaccord Genuity boosted their price target on Solaredge Technologies from $128.00 to $169.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Oppenheimer boosted their price target on Solaredge Technologies from $151.00 to $207.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price target on Solaredge Technologies from $196.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Northland Securities reiterated a “hold” rating and set a $88.00 price target on shares of Solaredge Technologies in a research report on Thursday, May 7th.
Shares of NASDAQ:SEDG traded down $2.79 during mid-day trading on Friday, hitting $217.92. 11,720 shares of the company traded hands, compared to its average volume of 1,142,006. The firm has a market cap of $10.98 billion, a P/E ratio of 64.42, a PEG ratio of 3.07 and a beta of 0.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.00 and a current ratio of 2.65. Solaredge Technologies has a 52-week low of $67.02 and a 52-week high of $229.49. The firm’s 50 day simple moving average is $175.31 and its 200 day simple moving average is $130.10.
Solaredge Technologies (NASDAQ:SEDG) last announced its earnings results on Monday, August 3rd. The semiconductor company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.44 by $0.26. Solaredge Technologies had a return on equity of 20.76% and a net margin of 10.89%. The business had revenue of $331.90 million for the quarter, compared to the consensus estimate of $319.55 million. During the same period last year, the business posted $0.94 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Solaredge Technologies will post 2.86 EPS for the current fiscal year.
In other news, Director More Avery sold 11,500 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $225.12, for a total transaction of $2,588,880.00. Following the sale, the director now directly owns 166,091 shares of the company’s stock, valued at $37,390,405.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lior Handelsman sold 200 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $155.04, for a total value of $31,008.00. Following the sale, the vice president now directly owns 48,193 shares in the company, valued at $7,471,842.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,564 shares of company stock valued at $8,401,930. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in shares of Solaredge Technologies in the 1st quarter worth $25,000. Horan Securities Inc. acquired a new stake in Solaredge Technologies during the 1st quarter worth $29,000. Flagship Harbor Advisors LLC raised its stake in Solaredge Technologies by 35.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 405 shares of the semiconductor company’s stock worth $33,000 after buying an additional 105 shares during the period. Highlander Capital Management LLC acquired a new stake in Solaredge Technologies during the 1st quarter worth $41,000. Finally, Anderson Fisher LLC acquired a new stake in Solaredge Technologies during the 1st quarter worth $45,000. 81.44% of the stock is currently owned by institutional investors.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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