SolarEdge Technologies (NASDAQ:SEDG) Coverage Initiated at DZ Bank

Research analysts at DZ Bank initiated coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $62.00 price target on the semiconductor company’s stock. DZ Bank’s price objective would indicate a potential upside of 8.03% from the company’s previous close.

Several other brokerages also recently commented on SEDG. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Thursday, December 28th. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price on the stock. Mizuho dropped their price target on SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada cut their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $98.81.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $57.39 on Wednesday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.28 billion, a PE ratio of 127.53 and a beta of 1.51. The company has a 50 day moving average of $69.84 and a 200-day moving average of $80.28. SolarEdge Technologies has a 1-year low of $57.06 and a 1-year high of $321.61.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $319.97 million. As a group, equities research analysts forecast that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. Captrust Financial Advisors grew its position in SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company’s stock valued at $329,000 after purchasing an additional 39 shares during the period. United Capital Financial Advisers LLC grew its position in SolarEdge Technologies by 2.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock valued at $772,000 after purchasing an additional 46 shares during the period. Steward Partners Investment Advisory LLC grew its position in SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 48 shares during the period. B. Riley Wealth Advisors Inc. grew its position in SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company’s stock valued at $286,000 after purchasing an additional 49 shares during the period. Finally, Harbour Investments Inc. grew its position in SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.