B. Riley Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $124.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by equities research analysts at B. Riley from $133.00 to $124.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target would suggest a potential upside of 118.43% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Truist Financial decreased their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Scotiabank decreased their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Finally, DZ Bank assumed coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus price target of $98.38.

SolarEdge Technologies Stock Up 4.1 %

SEDG opened at $56.77 on Monday. 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 company’s 50-day moving average is $68.43 and its 200 day moving average is $78.27. SolarEdge Technologies has a fifty-two week low of $53.59 and a fifty-two week high of $321.33. The firm has a market capitalization of $3.24 billion, a P/E ratio of 126.16 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $319.97 million. Research analysts expect that SolarEdge Technologies will post -4.11 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently bought and sold shares of the company. CWM LLC lifted its position in SolarEdge Technologies by 94.0% during the third quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 314 shares during the last quarter. Kentucky Retirement Systems bought a new stake in SolarEdge Technologies during the third quarter valued at approximately $638,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in SolarEdge Technologies during the third quarter valued at approximately $285,000. SG Americas Securities LLC lifted its position in SolarEdge Technologies by 40.2% during the third quarter. SG Americas Securities LLC now owns 14,446 shares of the semiconductor company’s stock valued at $1,871,000 after purchasing an additional 4,143 shares during the last quarter. Finally, Everence Capital Management Inc. lifted its position in SolarEdge Technologies by 159.4% during the third quarter. Everence Capital Management Inc. now owns 4,540 shares of the semiconductor company’s stock valued at $588,000 after purchasing an additional 2,790 shares during the last quarter. Hedge funds and other 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.