Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus recommendation of “Buy” from the twenty analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, twelve have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $34.13.
Several equities analysts recently issued reports on SEDG shares. J P Morgan Chase & Co boosted their price target on SolarEdge Technologies from $31.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Canaccord Genuity restated a “buy” rating and issued a $30.00 price target (up previously from $25.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. Zacks Investment Research lowered SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Needham & Company LLC lifted their price objective on SolarEdge Technologies from $30.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, Roth Capital raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, July 27th.
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SolarEdge Technologies (NASDAQ SEDG) traded down $0.20 on Friday, hitting $37.55. The stock had a trading volume of 542,338 shares, compared to its average volume of 863,507. SolarEdge Technologies has a twelve month low of $12.00 and a twelve month high of $39.45. The firm has a market capitalization of $1,615.14, a PE ratio of 22.76, a P/E/G ratio of 0.82 and a beta of 0.10.
In other SolarEdge Technologies news, CFO Ronen Faier sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $28.56, for a total value of $856,800.00. Following the completion of the transaction, the chief financial officer now directly owns 80,000 shares of the company’s stock, valued at approximately $2,284,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Yoav Galin sold 15,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $28.64, for a total transaction of $429,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,940 shares of company stock valued at $3,511,159. 16.40% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Senvest Management LLC lifted its position in shares of SolarEdge Technologies by 2.8% during the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock worth $75,024,000 after purchasing an additional 103,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in SolarEdge Technologies by 16.6% during the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock worth $50,849,000 after acquiring an additional 254,056 shares during the period. Menora Mivtachim Holdings LTD. raised its stake in SolarEdge Technologies by 26.2% during the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after acquiring an additional 300,000 shares during the period. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies during the second quarter worth about $20,180,000. Finally, Janus Henderson Group PLC raised its stake in SolarEdge Technologies by 435.7% during the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock worth $18,932,000 after acquiring an additional 770,166 shares during the period. 60.00% of the stock is owned by institutional investors.
SolarEdge Technologies Company Profile
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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