SolarEdge Technologies, Inc. (NASDAQ:SEDG) Short Interest Update – MarketBeat

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SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,040,000 shares, an increase of 16.6% from the September 30th total of 1,750,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 1.8 days.

Insider Transactions at SolarEdge Technologies

In related news, VP Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $307.75, for a total transaction of $1,538,750.00. Following the completion of the transaction, the vice president now directly owns 162,248 shares in the company, valued at approximately $49,931,822. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $307.75, for a total transaction of $1,538,750.00. Following the sale, the vice president now owns 162,248 shares of the company’s stock, valued at approximately $49,931,822. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director More Avery sold 46,319 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $82.70, for a total value of $3,830,581.30. Following the sale, the director now directly owns 543,782 shares in the company, valued at approximately $44,970,771.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,219 shares of company stock worth $9,776,728. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Steward Partners Investment Advisory LLC boosted its position in shares of SolarEdge Technologies by 79.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 42 shares in the last quarter. AllSquare Wealth Management LLC bought a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $27,000. Wipfli Financial Advisors LLC bought a new stake in SolarEdge Technologies during the 3rd quarter worth approximately $31,000. Elequin Capital LP acquired a new stake in SolarEdge Technologies during the 1st quarter worth approximately $32,000. Finally, Clear Street Markets LLC lifted its stake in SolarEdge Technologies by 431.8% in the second quarter. Clear Street Markets LLC now owns 117 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on SolarEdge Technologies from $419.00 to $379.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. B. Riley lowered their target price on SolarEdge Technologies from $385.00 to $377.00 and set a “buy” rating on the stock in a research note on Tuesday. TheStreet downgraded SolarEdge Technologies from a “b-” rating to a “c+” rating in a research note on Wednesday, September 28th. Piper Sandler decreased their price target on SolarEdge Technologies from $385.00 to $315.00 and set an “overweight” rating on the stock in a research note on Monday, October 17th. Finally, StockNews.com initiated coverage on SolarEdge Technologies in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.20.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded up $2.89 on Friday, reaching $231.72. The company’s stock had a trading volume of 798,873 shares, compared to its average volume of 1,293,555. SolarEdge Technologies has a twelve month low of $190.15 and a twelve month high of $389.71. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 90.52, a PEG ratio of 2.11 and a beta of 1.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.96 and a current ratio of 3.73. The business’s fifty day moving average price is $255.83 and its 200 day moving average price is $272.42.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). The company had revenue of $727.77 million during the quarter, compared to analyst estimates of $725.75 million. SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. Equities analysts expect that SolarEdge Technologies will post 3.92 earnings per share for the current fiscal year.

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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