Solaredge Technologies (SEDG) Hits New 1-Year High at $49.73

Solaredge Technologies Inc (NASDAQ:SEDG)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $49.73 and last traded at $48.35, with a volume of 789100 shares changing hands. The stock had previously closed at $48.35.

A number of equities analysts have commented on SEDG shares. ValuEngine cut Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Deutsche Bank cut Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Monday, November 27th. Zacks Investment Research raised Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a report on Tuesday, November 14th. JPMorgan Chase & Co. increased their target price on Solaredge Technologies to $43.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Finally, Vertical Group started coverage on Solaredge Technologies in a report on Thursday, January 11th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Solaredge Technologies has an average rating of “Buy” and an average target price of $42.73.

The stock has a market cap of $2,100.00 and a price-to-earnings ratio of 27.03.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.51 by $0.29. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%. The firm had revenue of $189.34 million during the quarter, compared to analysts’ expectations of $179.78 million. sell-side analysts anticipate that Solaredge Technologies Inc will post 2.45 EPS for the current fiscal year.

In other Solaredge Technologies news, VP Meir Adest sold 4,700 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $35.02, for a total transaction of $164,594.00. Following the completion of the sale, the vice president now owns 20,633 shares of the company’s stock, valued at $722,567.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $37.74, for a total value of $566,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 416,914 shares of company stock valued at $17,159,064. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB increased its stake in Solaredge Technologies by 15.8% during the fourth quarter. Handelsbanken Fonder AB now owns 241,757 shares of the semiconductor company’s stock worth $9,078,000 after acquiring an additional 33,060 shares during the last quarter. Meitav Dash Investments Ltd. acquired a new stake in Solaredge Technologies during the fourth quarter worth $15,512,000. Flinton Capital Management LLC acquired a new stake in Solaredge Technologies during the fourth quarter worth $231,000. Meadow Creek Investment Management LLC acquired a new stake in Solaredge Technologies during the fourth quarter worth $109,000. Finally, Elkfork Partners LLC acquired a new stake in Solaredge Technologies during the fourth quarter worth $190,000. 63.13% of the stock is owned by institutional investors.

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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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