SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Recommendation of “Hold” by Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned a consensus recommendation of “Hold” from the thirty brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twenty-one have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $97.62.

A number of research firms have issued reports on SEDG. Piper Sandler cut their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. DZ Bank assumed coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target on the stock. Janney Montgomery Scott lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Barclays upped their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company decreased their price target on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $58.71 on Friday. The business’s 50 day moving average is $64.75 and its 200-day moving average is $74.12. The firm has a market cap of $3.36 billion, a P/E ratio of 130.47 and a beta of 1.53. SolarEdge Technologies has a 1-year low of $53.59 and a 1-year high of $315.34. 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 (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. Equities research analysts predict that SolarEdge Technologies will post -4.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director More Avery purchased 7,000 shares of the firm’s stock in a transaction dated 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 approximately $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SEDG. NBC Securities Inc. bought a new stake in SolarEdge Technologies during the 3rd quarter worth approximately $25,000. Manchester Capital Management LLC raised its position in 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 buying an additional 269 shares during the last quarter. GAMMA Investing LLC bought a new position in SolarEdge Technologies during the 4th quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 640 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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.