Solaredge Technologies (SEDG) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a hold rating to a sell rating in a research report released on Friday.

Several other research firms also recently weighed in on SEDG. BidaskClub downgraded shares of Solaredge Technologies from a sell rating to a strong sell rating in a research report on Saturday, September 29th. Roth Capital set a $60.00 target price on shares of Solaredge Technologies and gave the stock a buy rating in a research report on Friday, August 3rd. Vertical Group set a $29.00 target price on shares of Solaredge Technologies and gave the stock a sell rating in a research report on Wednesday, October 24th. B. Riley set a $60.00 target price on shares of Solaredge Technologies and gave the stock a buy rating in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Solaredge Technologies from $63.00 to $59.00 and set a buy rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $55.00.

SEDG stock traded down $3.28 during trading on Friday, reaching $37.75. The stock had a trading volume of 4,353,189 shares, compared to its average volume of 955,002. Solaredge Technologies has a 1-year low of $30.80 and a 1-year high of $70.74. The firm has a market capitalization of $1.72 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.62 and a beta of -0.41.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, November 1st. The semiconductor company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The company had revenue of $236.60 million during the quarter, compared to the consensus estimate of $234.19 million. Solaredge Technologies had a net margin of 15.69% and a return on equity of 34.96%. The company’s revenue was up 42.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. Research analysts predict that Solaredge Technologies will post 2.79 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in SEDG. Menora Mivtachim Holdings LTD. grew its position in shares of Solaredge Technologies by 56.2% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 3,139,422 shares of the semiconductor company’s stock valued at $150,221,000 after buying an additional 1,129,338 shares during the last quarter. NN Investment Partners Holdings N.V. grew its position in shares of Solaredge Technologies by 39.5% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 3,394,855 shares of the semiconductor company’s stock valued at $127,818,000 after buying an additional 960,411 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Solaredge Technologies by 7,753.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 536,084 shares of the semiconductor company’s stock valued at $25,651,000 after buying an additional 529,258 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Solaredge Technologies by 59.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,228,457 shares of the semiconductor company’s stock valued at $58,782,000 after buying an additional 457,908 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Solaredge Technologies by 13.0% during the 2nd quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock valued at $177,453,000 after buying an additional 426,231 shares during the last quarter. 73.98% of the stock is owned by institutional investors and hedge funds.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

Featured Story: What is an Initial Public Offering (IPO)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply