SolarEdge Technologies (NASDAQ:SEDG) Shares Up 5.1%

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares rose 5.1% during trading on Wednesday . The company traded as high as $67.60 and last traded at $66.66. Approximately 413,728 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,554,391 shares. The stock had previously closed at $63.43.

Wall Street Analysts Forecast Growth

SEDG has been the subject of several research reports. Roth Mkm raised their price objective on shares of SolarEdge Technologies from $60.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, December 7th. The Goldman Sachs Group reduced their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Scotiabank lowered their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. Mizuho decreased their price target on shares of SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price objective for the company. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $109.69.

SolarEdge Technologies Stock Up 1.9 %

The stock has a market capitalization of $4.06 billion, a P/E ratio of 157.73 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The firm has a 50-day simple moving average of $70.96 and a 200 day simple moving average of $87.68.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. On average, equities research analysts forecast that SolarEdge Technologies, Inc. will post -3.94 EPS for the current year.

Insider Buying and Selling

In related news, Director More Avery bought 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its position in SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company’s stock valued at $329,000 after purchasing an additional 39 shares during the period. United Capital Financial Advisers LLC increased its position in shares of SolarEdge Technologies by 2.0% during the first quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock worth $772,000 after acquiring an additional 46 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 48 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 49 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.