SolarEdge Technologies (NASDAQ:SEDG) Upgraded by Glj Research to Strong-Buy Rating

Glj Research upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a strong sell rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on SEDG. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price target for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Roth Mkm dropped their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Citigroup decreased 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 note on Tuesday, October 22nd. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Finally, TD Cowen cut their price objective 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. Seven equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $22.40.

SolarEdge Technologies Trading Down 5.3 %

Shares of NASDAQ:SEDG opened at $13.11 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The stock has a market cap of $759.72 million, a PE ratio of -0.45 and a beta of 1.56. The business has a 50 day moving average of $14.79 and a 200-day moving average of $22.78. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $102.62.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same quarter in the prior year, the firm earned ($1.03) EPS. The business’s revenue was down 64.0% on a year-over-year basis. As a group, equities research analysts forecast that SolarEdge Technologies will post -19.18 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Quarry LP bought a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at $36,627,000. Two Sigma Advisers LP grew its position in shares of SolarEdge Technologies by 0.3% during 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 in the last quarter. M&G PLC increased its holdings in shares of SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after purchasing an additional 38,001 shares during the period. Geode Capital Management LLC boosted its stake in SolarEdge Technologies by 3.7% during the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after buying an additional 25,474 shares during the period. Finally, Meitav Investment House Ltd. boosted its position in shares of SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after acquiring an additional 51,065 shares during the last quarter. Hedge funds and other 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.