SolarEdge Technologies’ (NASDAQ:SEDG) Sell Rating Reiterated at Axiom Securities
SolarEdge Technologies, Inc. (NASDAQ:SEDG)‘s stock had its “sell” rating reiterated by analysts at Axiom Securities in a research note issued on Thursday.
A number of other research analysts have also weighed in on the stock. BidaskClub raised shares of SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Deutsche Bank AG set a $30.00 price target on shares of SolarEdge Technologies and gave the company a “buy” rating in a research report on Thursday, August 3rd. Cowen and Company reissued a “buy” rating and set a $31.00 price target (up from $24.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target (up from $25.00) on shares of SolarEdge Technologies in a research report on Wednesday. Finally, Barclays PLC reissued an “overweight” rating and set a $28.00 price target (up from $21.00) on shares of SolarEdge Technologies in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.11.
Shares of SolarEdge Technologies (NASDAQ SEDG) traded down 2.36% during midday trading on Thursday, hitting $26.95. 1,315,702 shares of the stock were exchanged. The firm’s 50 day moving average is $22.49 and its 200-day moving average is $17.43. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 23.89 and a beta of 0.04. SolarEdge Technologies has a 1-year low of $11.35 and a 1-year high of $28.80.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.18. The firm had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. On average, analysts predict that SolarEdge Technologies will post $1.84 EPS for the current year.
In other SolarEdge Technologies news, VP Zvi Lando sold 1,300 shares of SolarEdge Technologies stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $22.02, for a total value of $28,626.00. Following the sale, the vice president now owns 47,311 shares of the company’s stock, valued at $1,041,788.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director More Avery sold 20,000 shares of SolarEdge Technologies stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $19.30, for a total transaction of $386,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,018 shares of company stock worth $2,757,847. Insiders own 16.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of SolarEdge Technologies by 4.5% in the first quarter. FMR LLC now owns 3,183,418 shares of the semiconductor company’s stock valued at $49,662,000 after buying an additional 136,899 shares in the last quarter. Sylebra HK Co Ltd raised its stake in SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock valued at $33,097,000 after buying an additional 412,073 shares during the period. NN Investment Partners Holdings N.V. raised its stake in SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after buying an additional 305,179 shares during the period. Bank of New York Mellon Corp raised its stake in SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares during the period. Finally, Menora Mivtachim Holdings LTD. raised its stake in SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after buying an additional 300,000 shares during the period. 57.28% of the stock is currently owned by institutional investors and hedge funds.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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