SolarEdge Technologies (NASDAQ:SEDG) Upgraded to “Strong-Buy” at Glj Research

Glj Research upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a strong sell rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Barclays dropped their price objective on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada cut their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. TD Cowen dropped their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Finally, Citigroup reduced their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average price target of $22.40.

SolarEdge Technologies Stock Down 5.3 %

SolarEdge Technologies stock opened at $13.11 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $102.62. The firm has a market cap of $759.72 million, a price-to-earnings ratio of -0.45 and a beta of 1.56. The stock has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $22.78.

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

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. International Assets Investment Management LLC bought a new position in SolarEdge Technologies during the 2nd quarter valued at approximately $28,000. KBC Group NV raised its stake 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 worth $65,000 after purchasing an additional 1,378 shares during the last quarter. US Bancorp DE lifted its stake in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the period. GFG Capital LLC bought a new stake in SolarEdge Technologies in the 3rd quarter worth approximately $229,000. Finally, Magnetar Financial LLC bought a new position in SolarEdge Technologies in the second quarter valued at about $286,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.