SolarEdge Technologies (NASDAQ:SEDG) Reaches New 12-Month Low at $174.22

Posted by Defense World Staff on Aug 13th, 2023

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $174.22 and last traded at $175.45, with a volume of 114734 shares traded. The stock had previously closed at $177.84.

Analyst Ratings Changes

Several brokerages have recently commented on SEDG. The Goldman Sachs Group reduced their price target on shares of SolarEdge Technologies from $414.00 to $353.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Citigroup reduced their price target on shares of SolarEdge Technologies from $429.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, July 19th. StockNews.com raised shares of SolarEdge Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Susquehanna cut their target price on shares of SolarEdge Technologies from $365.00 to $305.00 and set a “positive” rating on the stock in a report on Wednesday, August 2nd. Finally, Oppenheimer cut their target price on shares of SolarEdge Technologies from $400.00 to $314.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.00.

Get Our Latest Stock Analysis on SEDG

SolarEdge Technologies Stock Down 0.8 %

The company has a quick ratio of 2.75, a current ratio of 3.84 and a debt-to-equity ratio of 0.27. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. The stock’s 50 day moving average is $252.12 and its 200 day moving average is $283.77.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, CFO Ronen Faier bought 875 shares of SolarEdge Technologies stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $180.10 per share, for a total transaction of $157,587.50. Following the completion of the acquisition, the chief financial officer now owns 73,414 shares of the company’s stock, valued at approximately $13,221,861.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. boosted its holdings in SolarEdge Technologies by 2,364.6% during the first quarter. Baillie Gifford & Co. now owns 931,431 shares of the semiconductor company’s stock worth $283,108,000 after buying an additional 893,639 shares in the last quarter. Senvest Management LLC boosted its stake in SolarEdge Technologies by 124.3% in the 4th quarter. Senvest Management LLC now owns 759,071 shares of the semiconductor company’s stock worth $215,022,000 after purchasing an additional 420,689 shares during the period. Norges Bank acquired a new position in SolarEdge Technologies in the 4th quarter worth approximately $115,423,000. Price T Rowe Associates Inc. MD boosted its stake in SolarEdge Technologies by 432.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock worth $120,311,000 after purchasing an additional 321,509 shares during the period. Finally, Robeco Schweiz AG acquired a new position in SolarEdge Technologies in the 1st quarter worth approximately $94,454,000. 83.23% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

(Get Free Report)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.