SolarEdge Technologies (NASDAQ:SEDG) Raised to "Sell" at StockNews.com – MarketBeat

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SolarEdge Technologies (NASDAQ:SEDG – Get Rating) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued on Saturday.
A number of other research firms have also recently weighed in on SEDG. BMO Capital Markets decreased their price objective on SolarEdge Technologies from $405.00 to $372.00 in a research report on Tuesday, May 3rd. Credit Suisse Group reaffirmed a “buy” rating and set a $303.00 price objective on shares of SolarEdge Technologies in a research report on Friday, March 18th. B. Riley increased their price objective on SolarEdge Technologies from $297.00 to $359.00 and gave the stock a “buy” rating in a research report on Wednesday, March 30th. Citigroup increased their price objective on SolarEdge Technologies from $255.00 to $300.00 and gave the stock a “hold” rating in a research report on Tuesday, May 3rd. Finally, Piper Sandler cut their target price on SolarEdge Technologies from $400.00 to $385.00 in a research note on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.81.
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Shares of NASDAQ SEDG opened at $276.30 on Friday. The stock has a market cap of $15.30 billion, a PE ratio of 88.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34. SolarEdge Technologies has a 52-week low of $200.86 and a 52-week high of $389.71. The business has a 50-day moving average price of $265.19 and a 200 day moving average price of $275.12.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last announced its earnings results on Monday, May 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). SolarEdge Technologies had a net margin of 7.78% and a return on equity of 11.59%. The firm had revenue of $655.08 million during the quarter, compared to analyst estimates of $634.70 million. Sell-side analysts anticipate that SolarEdge Technologies will post 4.76 earnings per share for the current year.
In other SolarEdge Technologies news, VP Meir Adest sold 10,000 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $301.59, for a total transaction of $3,015,900.00. Following the sale, the vice president now owns 199,867 shares in the company, valued at approximately $60,277,888.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the sale, the vice president now owns 12,581 shares in the company, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,261 shares of company stock worth $5,617,276. 1.60% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $32,000. Chilton Capital Management LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at $28,000. First Horizon Advisors Inc. boosted its holdings in SolarEdge Technologies by 274.1% in the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Addison Advisors LLC acquired a new position in SolarEdge Technologies in the first quarter valued at $37,000. Finally, Sageworth Trust Co of South Dakota acquired a new position in SolarEdge Technologies in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 75.73% of the company’s stock.
About SolarEdge Technologies (Get Rating)
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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