SolarEdge Technologies Inc. (SEDG) Stock Price Down 3.2%
SolarEdge Technologies Inc. (NASDAQ:SEDG) shares fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $16.86 and last traded at $17.03, with a volume of 324,892 shares. The stock had previously closed at $17.60.
Several brokerages have issued reports on SEDG. Barclays PLC lowered SolarEdge Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, August 25th. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 price target on shares of SolarEdge Technologies in a report on Tuesday, August 16th. Deutsche Bank AG cut their price target on SolarEdge Technologies from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Needham & Company LLC cut their price target on SolarEdge Technologies from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, FBR & Co cut their price target on SolarEdge Technologies from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.50.
The company has a 50 day moving average price of $17.96 and a 200 day moving average price of $21.94. The firm has a market cap of $691.38 million and a price-to-earnings ratio of 9.772.
SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, August 9th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $129.63 million. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue was up 26.8% on a year-over-year basis. Equities research analysts anticipate that SolarEdge Technologies Inc. will post $1.94 EPS for the current fiscal year.
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.
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