SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 12.4% – Still a Buy?

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) rose 12.4% during mid-day trading on Monday . The company traded as high as $14.60 and last traded at $14.37. Approximately 1,147,591 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,638,145 shares. The stock had previously closed at $12.78.

Analyst Upgrades and Downgrades

Several analysts have commented on SEDG shares. Citigroup dropped their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Bank of America downgraded SolarEdge Technologies from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Glj Research restated a “sell” rating and set a $3.90 target price on shares of SolarEdge Technologies in a report on Friday, November 29th. TD Cowen lowered their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, Barclays cut their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Nine analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $22.04.

SolarEdge Technologies Stock Down 1.3 %

The firm has a market capitalization of $816.52 million, a P/E ratio of -0.49 and a beta of 1.56. The firm’s 50 day moving average is $15.66 and its two-hundred day moving average is $24.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data 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 firm had revenue of $260.90 million during the quarter, compared to the consensus estimate 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 period last year, the business earned ($1.03) EPS. Research analysts predict that SolarEdge Technologies, Inc. will post -19.18 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in SolarEdge Technologies by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after acquiring an additional 10,515 shares during the period. Geode Capital Management LLC increased its stake in shares of SolarEdge Technologies by 3.7% during the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in SolarEdge Technologies during the 3rd quarter worth approximately $278,000. Two Sigma Advisers LP boosted its stake in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after purchasing an additional 3,400 shares during the period. Finally, Soros Fund Management LLC acquired a new position in SolarEdge Technologies in the 3rd quarter valued at $5,293,000. Institutional investors and hedge funds 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.