SolarEdge Technologies (NASDAQ:SEDG) Research Coverage Started at DZ Bank

DZ Bank started coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $62.00 price target on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Barclays increased their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research note on Tuesday. Citigroup reduced their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a market perform rating on the stock in a research note on Wednesday, February 21st. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a hold rating on the stock in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a sell rating on the stock in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of Hold and an average target price of $98.73.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $55.80 on Wednesday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 124.00 and a beta of 1.51. The company has a 50 day moving average of $69.40 and a 200-day moving average of $79.81. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 1-year low of $55.37 and a 1-year high of $321.61.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share 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 company had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. On average, equities analysts forecast that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of SolarEdge Technologies in the 3rd quarter valued at about $25,000. Quarry LP bought a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $27,000. Manchester Capital Management LLC grew its position in shares of SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. Harbour Investments Inc. grew its position in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 50 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $29,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

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.