SolarEdge Technologies (NASDAQ:SEDG) Shares Up 4.6% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was up 4.6% on Wednesday . The company traded as high as $15.71 and last traded at $15.03. Approximately 1,401,973 shares changed hands during trading, a decline of 62% from the average daily volume of 3,686,596 shares. The stock had previously closed at $14.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $9.00 target price (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Citigroup decreased their price objective on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. William Blair assumed coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Susquehanna lowered their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Eight analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.40.

SolarEdge Technologies Stock Up 10.1 %

The business has a fifty day moving average price of $15.08 and a two-hundred day moving average price of $23.15. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The company has a market cap of $916.77 million, a price-to-earnings ratio of -0.54 and a beta of 1.56.

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

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 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 transaction, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in SolarEdge Technologies during the second quarter valued at approximately $28,000. KBC Group NV increased its stake in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the last quarter. US Bancorp DE raised its holdings in shares of SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares in the last quarter. GFG Capital LLC bought a new position in shares of SolarEdge Technologies during the 3rd quarter valued at $229,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of SolarEdge Technologies in the 3rd quarter valued at $278,000. 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.