SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price was up 2.2% during trading on Friday after Roth Capital raised their price target on the stock from $36.00 to $42.00. Roth Capital currently has a buy rating on the stock. SolarEdge Technologies traded as high as $39.00 and last traded at $37.95. Approximately 706,459 shares traded hands during trading, a decline of 6% from the average daily volume of 749,610 shares. The stock had previously closed at $38.80.
A number of other equities analysts also recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of SolarEdge Technologies in a report on Tuesday, September 12th. ValuEngine downgraded SolarEdge Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Zacks Investment Research upgraded SolarEdge Technologies from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Thursday, July 20th. CIBC upgraded SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Finally, Cowen and Company restated a “buy” rating and set a $24.00 target price on shares of SolarEdge Technologies in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. SolarEdge Technologies presently has a consensus rating of “Buy” and an average price target of $30.18.
In other news, VP Yoav Galin sold 6,700 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $34.07, for a total value of $228,269.00. Following the sale, the vice president now directly owns 25,000 shares of the company’s stock, valued at $851,750. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Zvi Lando sold 6,240 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $33.50, for a total value of $209,040.00. Following the completion of the sale, the vice president now directly owns 34,573 shares in the company, valued at $1,158,195.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,940 shares of company stock worth $2,750,759. Insiders own 16.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of SolarEdge Technologies by 601.2% during the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of SolarEdge Technologies by 9.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock valued at $1,278,000 after buying an additional 7,140 shares during the last quarter. Spears Abacus Advisors LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter valued at $366,000. Goldman Sachs Group Inc. boosted its position in shares of SolarEdge Technologies by 143.7% during the second quarter. Goldman Sachs Group Inc. now owns 341,115 shares of the semiconductor company’s stock valued at $6,822,000 after buying an additional 201,146 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter valued at $4,006,000. 56.99% of the stock is currently owned by institutional investors.
The firm has a market cap of $1,668.90, a PE ratio of 23.51, a P/E/G ratio of 1.01 and a beta of 0.10.
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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.
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