Solaredge Technologies (NASDAQ:SEDG) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday, March 15th.
SEDG has been the topic of several other research reports. Canaccord Genuity raised their target price on Solaredge Technologies from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Roth Capital set a $60.00 target price on Solaredge Technologies and gave the stock a “buy” rating in a research report on Thursday, February 15th. Vertical Group initiated coverage on Solaredge Technologies in a research report on Thursday, January 11th. They set a “sell” rating on the stock. Deutsche Bank lowered Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Monday, November 27th. Finally, ValuEngine upgraded Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.47.
Shares of NASDAQ SEDG traded down $2.98 during midday trading on Thursday, hitting $54.23. 677,510 shares of the company’s stock were exchanged, compared to its average volume of 662,520. Solaredge Technologies has a twelve month low of $15.25 and a twelve month high of $58.20. The firm has a market capitalization of $2,379.99, a PE ratio of 24.10, a price-to-earnings-growth ratio of 0.91 and a beta of -0.55.
Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, topping 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 business had revenue of $189.34 million for the quarter, compared to analyst estimates of $179.78 million. sell-side analysts forecast that Solaredge Technologies will post 2.48 earnings per share for the current year.
In other Solaredge Technologies news, VP Rachel Prishkolnik sold 6,400 shares of Solaredge Technologies stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $52.09, for a total value of $333,376.00. Following the transaction, the vice president now directly owns 12,500 shares in the company, valued at approximately $651,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Meir Adest sold 28,000 shares of Solaredge Technologies stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $53.56, for a total value of $1,499,680.00. Following the completion of the transaction, the vice president now owns 62,417 shares in the company, valued at $3,343,054.52. The disclosure for this sale can be found here. Insiders have sold a total of 609,025 shares of company stock worth $29,617,837 in the last 90 days. 16.40% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in SEDG. Northern Trust Corp grew its stake in shares of Solaredge Technologies by 3.3% in the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock valued at $2,046,000 after purchasing an additional 3,297 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Solaredge Technologies by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock valued at $9,209,000 after buying an additional 18,861 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Solaredge Technologies by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 191,080 shares of the semiconductor company’s stock valued at $3,822,000 after buying an additional 26,277 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Solaredge Technologies in the 3rd quarter valued at approximately $280,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Solaredge Technologies in the 3rd quarter valued at approximately $882,000. Institutional investors own 65.65% of the company’s stock.
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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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