SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Consensus Rating of “Reduce” by Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given a consensus rating of “Reduce” by the twenty-nine research firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $21.72.

Several research firms have commented on SEDG. Piper Sandler downgraded SolarEdge Technologies from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. Truist Financial dropped their price target on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Citigroup dropped their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. KBC Group NV lifted its position in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares in the last quarter. GAMMA Investing LLC lifted its holdings in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares in the last quarter. US Bancorp DE boosted its stake in SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. GFG Capital LLC purchased a new stake in SolarEdge Technologies during the 3rd quarter valued at approximately $229,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SolarEdge Technologies in the third quarter worth $278,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

SEDG opened at $17.59 on Wednesday. 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 $1.02 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The stock has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $19.95. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $87.98.

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

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.