SolarEdge Technologies (NASDAQ:SEDG) Shares Up 6.2% – Should You Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was up 6.2% during trading on Friday . The stock traded as high as $16.24 and last traded at $16.20. Approximately 2,324,092 shares traded hands during trading, a decline of 30% from the average daily volume of 3,308,649 shares. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

Several analysts have commented on SEDG shares. DZ Bank cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday. Roth Mkm decreased their price objective on shares of SolarEdge Technologies from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Canaccord Genuity Group decreased their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Susquehanna decreased their target price on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.52.

SolarEdge Technologies Price Performance

The firm has a market cap of $923.09 million, a PE ratio of -3.46 and a beta of 1.56. The stock’s fifty day moving average price is $21.03 and its 200-day moving average price is $33.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the company earned $2.06 EPS. SolarEdge Technologies’s quarterly revenue was down 73.2% compared to the same quarter last year. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -8.78 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth $28,000. EntryPoint Capital LLC acquired a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $64,000. Hexagon Capital Partners LLC boosted its position in shares of SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 610 shares during the last quarter. First Pacific Financial boosted its position in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,805 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of SolarEdge Technologies during the 3rd quarter valued at about $229,000. 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.