SolarEdge Technologies Inc. (SEDG) Sees Large Volume Increase
Shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) saw strong trading volume on Monday . 904,271 shares traded hands during mid-day trading, an increase of 61% from the previous session’s volume of 562,112 shares.The stock last traded at $17.55 and had previously closed at $17.90.
Several analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating on shares of SolarEdge Technologies in a report on Monday, June 27th. Barclays PLC cut SolarEdge Technologies to a “buy” rating in a report on Monday, June 20th. FBR & Co reiterated a “buy” rating and issued a $38.00 target price on shares of SolarEdge Technologies in a report on Thursday, June 16th. TheStreet cut SolarEdge Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Finally, Zacks Investment Research upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. SolarEdge Technologies currently has an average rating of “Buy” and an average target price of $31.33.
The stock has a 50-day moving average price of $19.49 and a 200 day moving average price of $23.33. The stock has a market cap of $700.15 million and a P/E ratio of 12.01.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.10. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $123.23 million. The business’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities analysts predict that SolarEdge Technologies Inc. will post $1.70 earnings per share for the current year.
In other SolarEdge Technologies news, VP Yoav Galin sold 10,874 shares of SolarEdge Technologies stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $21.01, for a total value of $228,462.74. Following the transaction, the vice president now directly owns 444,166 shares of the company’s stock, valued at approximately $9,331,927.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Other institutional investors recently made changes to their positions in the company. Alpine Woods Capital Investors LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $1,220,000. Turner Investments L.P. bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $1,803,000. Schroder Investment Management Group bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $1,569,000. PNC Financial Services Group Inc. boosted its position in shares of SolarEdge Technologies by 2,569.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 51,251 shares of the company’s stock worth $1,444,000 after buying an additional 49,331 shares during the period. Finally, Morgan Stanley boosted its position in shares of SolarEdge Technologies by 29.5% in the fourth quarter. Morgan Stanley now owns 37,784 shares of the company’s stock worth $1,064,000 after buying an additional 8,612 shares during the period.
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.