SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Glj Research

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by analysts at Glj Research from a “strong sell” rating to a “hold” rating in a research report issued on Friday, Marketbeat reports. The brokerage presently has a $6.90 price objective on the semiconductor company’s stock. Glj Research’s price objective suggests a potential downside of 61.19% from the stock’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada upped their target price on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Northland Capmk raised SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 23rd. Guggenheim reissued a “sell” rating and issued a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Canaccord Genuity Group lifted their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group reduced their price target on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a research report on Tuesday, April 15th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $16.56.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG traded up $1.18 on Friday, hitting $17.78. The company had a trading volume of 3,927,863 shares, compared to its average volume of 4,591,374. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.05 billion, a PE ratio of -0.57 and a beta of 1.50. The business has a 50 day moving average of $15.29 and a 200 day moving average of $14.92. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $51.50.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly 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. The firm had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. SolarEdge Technologies’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.90) earnings per share. As a group, equities analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new position in SolarEdge Technologies during the fourth quarter valued at approximately $227,000. Exchange Traded Concepts LLC purchased a new position in SolarEdge Technologies in the fourth quarter valued at about $260,000. R Squared Ltd purchased a new position in SolarEdge Technologies in the fourth quarter valued at about $61,000. Bank Hapoalim BM grew its position in shares of SolarEdge Technologies by 24.0% in the 4th quarter. Bank Hapoalim BM now owns 41,626 shares of the semiconductor company’s stock worth $566,000 after buying an additional 8,053 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its position in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.