Barclays Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG) had its target price boosted by research analysts at Barclays from $7.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s target price indicates a potential downside of 30.84% from the stock’s previous close.

SEDG has been the subject of several other reports. Wells Fargo & Company lowered their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. UBS Group lowered their price target on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, November 8th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, TD Cowen cut their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.28.

SolarEdge Technologies Stock Down 1.7 %

Shares of SEDG opened at $14.46 on Tuesday. The company’s 50-day simple moving average is $13.92 and its 200-day simple moving average is $19.59. 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 $87.98. The stock has a market capitalization of $837.96 million, a PE ratio of -0.50 and a beta of 1.56.

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). The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s quarterly revenue was down 64.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.03) earnings per share. Analysts forecast that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were bought at an average cost 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 $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is owned by company insiders.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of SolarEdge Technologies by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 104,092 shares of the semiconductor company’s stock valued at $2,629,000 after purchasing an additional 3,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SolarEdge Technologies by 42.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 151,099 shares of the semiconductor company’s stock valued at $3,817,000 after acquiring an additional 45,130 shares during the period. Quantbot Technologies LP purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter worth approximately $4,391,000. Renaissance Technologies LLC purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter worth approximately $2,688,000. Finally, Hsbc Holdings PLC grew its holdings in shares of SolarEdge Technologies by 79.8% in the 2nd quarter. Hsbc Holdings PLC now owns 42,702 shares of the semiconductor company’s stock worth $1,062,000 after acquiring an additional 18,946 shares during the period. Hedge funds and other institutional investors 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.