BidaskClub Lowers Solaredge Technologies (NASDAQ:SEDG) to Hold

BidaskClub cut shares of Solaredge Technologies (NASDAQ:SEDG) from a buy rating to a hold rating in a research report report published on Tuesday, BidAskClub reports.

A number of other brokerages have also recently commented on SEDG. TheStreet raised Solaredge Technologies from a c+ rating to a b- rating in a research note on Wednesday, August 7th. Northland Securities reaffirmed a buy rating and issued a $88.00 price target on shares of Solaredge Technologies in a research note on Wednesday, August 7th. Oppenheimer lifted their price target on Solaredge Technologies from $66.00 to $78.00 and gave the stock an outperform rating in a research note on Wednesday, August 7th. Roth Capital lifted their price target on Solaredge Technologies from $70.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, JMP Securities lifted their price target on Solaredge Technologies to $90.00 and gave the stock an outperform rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $75.86.

NASDAQ:SEDG traded up $3.18 during mid-day trading on Tuesday, reaching $74.82. The stock had a trading volume of 42,443 shares, compared to its average volume of 981,324. The firm has a 50 day moving average price of $76.81 and a two-hundred day moving average price of $56.52. The stock has a market capitalization of $3.60 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.14 and a beta of 0.06. Solaredge Technologies has a one year low of $32.42 and a one year high of $89.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49.



Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.01. The company had revenue of $325.00 million during the quarter, compared to the consensus estimate of $315.53 million. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. Solaredge Technologies’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. Research analysts forecast that Solaredge Technologies will post 2.99 earnings per share for the current year.

In other news, Director Doron Inbar sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $86.80, for a total transaction of $1,736,000.00. Following the transaction, the director now directly owns 45,712 shares of the company’s stock, valued at $3,967,801.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director More Avery sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $82.06, for a total value of $164,120.00. Following the transaction, the director now directly owns 587,573 shares in the company, valued at $48,216,240.38. The disclosure for this sale can be found here. Insiders have sold 212,995 shares of company stock worth $17,894,851 over the last three months. Insiders own 7.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. BlackRock Inc. grew its stake in Solaredge Technologies by 2.8% in the second quarter. BlackRock Inc. now owns 4,840,757 shares of the semiconductor company’s stock worth $302,353,000 after purchasing an additional 131,352 shares during the period. Prudential PLC grew its stake in Solaredge Technologies by 11.5% in the second quarter. Prudential PLC now owns 34,208 shares of the semiconductor company’s stock worth $2,121,000 after purchasing an additional 3,531 shares during the period. Verition Fund Management LLC purchased a new stake in Solaredge Technologies in the second quarter worth $379,000. M Holdings Securities Inc. grew its stake in Solaredge Technologies by 13.9% in the second quarter. M Holdings Securities Inc. now owns 12,287 shares of the semiconductor company’s stock worth $767,000 after purchasing an additional 1,502 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in Solaredge Technologies by 33.1% in the second quarter. UBS Asset Management Americas Inc. now owns 33,170 shares of the semiconductor company’s stock worth $2,072,000 after purchasing an additional 8,244 shares during the period. 84.66% of the stock is currently owned by hedge funds and other institutional investors.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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