SolarEdge Technologies (NASDAQ:SEDG) Downgraded to C+ at TheStreet – MarketBeat

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SolarEdge Technologies (NASDAQ:SEDG – Get Rating) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.
SEDG has been the topic of a number of other research reports. Needham & Company LLC lowered their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Oppenheimer boosted their target price on SolarEdge Technologies from $334.00 to $400.00 in a research note on Wednesday, August 3rd. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Barclays started coverage on SolarEdge Technologies in a research report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 price target for the company. Finally, Morgan Stanley boosted their price target on SolarEdge Technologies from $316.00 to $352.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $359.68.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $235.56 on Wednesday. The business’s 50-day moving average price is $299.24 and its two-hundred day moving average price is $288.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.96. SolarEdge Technologies has a one year low of $200.86 and a one year high of $389.71. The company has a market capitalization of $13.05 billion, a P/E ratio of 92.02, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. The firm had revenue of $727.77 million during the quarter, compared to analysts’ expectations of $725.75 million. Analysts anticipate that SolarEdge Technologies will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, VP Meir Adest sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $307.75, for a total value of $1,538,750.00. Following the completion of the transaction, the vice president now owns 162,248 shares of the company’s stock, valued at approximately $49,931,822. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Rachel Prishkolnik sold 3,219 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $306.46, for a total value of $986,494.74. Following the sale, the vice president now directly owns 10,684 shares in the company, valued at approximately $3,274,218.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Meir Adest sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $307.75, for a total value of $1,538,750.00. Following the completion of the sale, the vice president now owns 162,248 shares in the company, valued at $49,931,822. The disclosure for this sale can be found here. Insiders sold a total of 19,571 shares of company stock valued at $6,045,781 in the last quarter. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of the stock. Capital Wealth Alliance LLC bought a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $159,000. Federated Hermes Inc. grew its position in SolarEdge Technologies by 3.4% during the 2nd quarter. Federated Hermes Inc. now owns 110,560 shares of the semiconductor company’s stock worth $30,258,000 after acquiring an additional 3,662 shares during the last quarter. Royal London Asset Management Ltd. grew its position in SolarEdge Technologies by 23.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 22,214 shares of the semiconductor company’s stock worth $6,077,000 after acquiring an additional 4,199 shares during the last quarter. Guinness Asset Management LTD grew its position in SolarEdge Technologies by 2.5% during the 2nd quarter. Guinness Asset Management LTD now owns 72,560 shares of the semiconductor company’s stock worth $19,858,000 after acquiring an additional 1,760 shares during the last quarter. Finally, Amundi grew its position in SolarEdge Technologies by 15.7% during the 2nd quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock worth $136,958,000 after acquiring an additional 68,858 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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