SolarEdge Technologies (NASDAQ:SEDG) Upgraded at Guggenheim

Guggenheim upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a sell rating to a neutral rating in a research report released on Wednesday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued reports about the company. Scotiabank cut their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Roth Mkm cut their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. UBS Group decreased their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group cut their price target on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Barclays decreased their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $22.79.

SolarEdge Technologies Trading Up 10.7 %

SolarEdge Technologies stock opened at $11.88 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $103.15. The firm’s 50-day moving average is $17.58 and its 200-day moving average is $27.96. The company has a market cap of $688.45 million, a P/E ratio of -0.41 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s revenue was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. On average, equities analysts expect that SolarEdge Technologies will post -19.05 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman More Avery acquired 156,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the company. Yelin Lapidot Holdings Management Ltd. boosted its position in shares of SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock worth $294,000 after buying an additional 564 shares during the period. Louisiana State Employees Retirement System boosted its position in SolarEdge Technologies by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 700 shares during the period. Bank Hapoalim BM boosted its position in SolarEdge Technologies by 2.5% during the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after acquiring an additional 812 shares during the period. California State Teachers Retirement System grew its stake in SolarEdge Technologies by 1.6% during the 1st quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company’s stock valued at $3,672,000 after acquiring an additional 827 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $64,000. 95.10% of the stock is 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.