ValuEngine downgraded shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) from a buy rating to a hold rating in a research note published on Friday, October 27th.
Several other brokerages have also recently commented on SEDG. JMP Securities reissued an outperform rating on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. CIBC raised shares of SolarEdge Technologies from a market perform rating to an outperform rating in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. boosted their price objective on shares of SolarEdge Technologies from $25.00 to $32.00 and gave the stock an outperform rating in a research note on Thursday, August 3rd. Barclays PLC reiterated an overweight rating and issued a $28.00 price target (up previously from $21.00) on shares of SolarEdge Technologies in a research note on Wednesday, August 9th. Finally, Axiom Securities restated a sell rating on shares of SolarEdge Technologies in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. SolarEdge Technologies currently has a consensus rating of Buy and an average target price of $30.18.
SolarEdge Technologies (SEDG) traded down $0.65 on Friday, reaching $38.15. 1,263,700 shares of the company traded hands, compared to its average volume of 860,526. The company has a market cap of $1,640.95, a PE ratio of 23.12, a P/E/G ratio of 0.99 and a beta of 0.10. SolarEdge Technologies has a 1-year low of $12.00 and a 1-year high of $39.45.
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In other SolarEdge Technologies news, VP Yoav Galin sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total transaction of $395,250.00. Following the transaction, the vice president now directly owns 65,000 shares of the company’s stock, valued at approximately $1,712,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronen Faier sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $856,800.00. Following the completion of the sale, the chief financial officer now directly owns 80,000 shares in the company, valued at $2,284,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,940 shares of company stock valued at $2,750,759. 16.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in SolarEdge Technologies by 19.5% during the 3rd quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 1,680 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SolarEdge Technologies by 199.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 121,408 shares of the semiconductor company’s stock valued at $3,497,000 after buying an additional 80,871 shares in the last quarter. Legal & General Group Plc purchased a new stake in SolarEdge Technologies during the 3rd quarter valued at approximately $1,572,000. Great West Life Assurance Co. Can grew its holdings in shares of SolarEdge Technologies by 837.5% in the third quarter. Great West Life Assurance Co. Can now owns 49,310 shares of the semiconductor company’s stock valued at $1,417,000 after purchasing an additional 44,050 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of SolarEdge Technologies in the third quarter valued at $377,000. 56.99% of the stock is owned by institutional investors.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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