SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 6.5% – Here’s Why

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price shot up 6.5% during trading on Tuesday . The stock traded as high as $55.96 and last traded at $55.5060. 259,713 shares were traded during trading, a decline of 93% from the average daily volume of 3,508,456 shares. The stock had previously closed at $52.13.

Wall Street Analyst Weigh In

SEDG has been the topic of a number of recent research reports. Barclays upped their target price on shares of SolarEdge Technologies from $41.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday. The Goldman Sachs Group restated a “sell” rating and issued a $31.00 price objective (down from $36.00) on shares of SolarEdge Technologies in a report on Wednesday, April 15th. Weiss Ratings raised shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Wells Fargo & Company assumed coverage on SolarEdge Technologies in a research report on Monday, June 29th. They issued an “equal weight” rating and a $36.00 price target on the stock. Finally, Citigroup reduced their price objective on SolarEdge Technologies from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, SolarEdge Technologies has a consensus rating of “Reduce” and a consensus target price of $37.41.

SolarEdge Technologies Trading Up 8.8%

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 2.02. The firm has a market cap of $3.45 billion, a P/E ratio of -9.25 and a beta of 1.45. The stock has a fifty day simple moving average of $57.18 and a 200 day simple moving average of $44.99.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.20). The firm had revenue of $309.90 million during the quarter, compared to the consensus estimate of $305.49 million. SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The business’s revenue was up 41.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.14) EPS. On average, research analysts expect that SolarEdge Technologies, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery sold 2,566 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $38.76, for a total transaction of $99,458.16. Following the sale, the chairman directly owned 295,379 shares of the company’s stock, valued at $11,448,890.04. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the business. Saranac Partners Ltd purchased a new position in SolarEdge Technologies in the 3rd quarter worth approximately $28,000. State of Wyoming purchased a new stake in SolarEdge Technologies during the 4th quarter valued at approximately $27,000. Rakuten Securities Inc. grew its holdings in SolarEdge Technologies by 82.1% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 432 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $31,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $36,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.