SolarEdge Technologies (NASDAQ:SEDG) Lowered to “Sell” at StockNews.com

Posted by Defense World Staff on Sep 23rd, 2023

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other research analysts have also recently weighed in on SEDG. Barclays cut their price target on shares of SolarEdge Technologies from $359.00 to $274.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. The Goldman Sachs Group cut their price target on shares of SolarEdge Technologies from $414.00 to $353.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. B. Riley dropped their target price on shares of SolarEdge Technologies from $368.00 to $356.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Piper Sandler dropped their target price on shares of SolarEdge Technologies from $395.00 to $370.00 in a research note on Tuesday, July 18th. Finally, BMO Capital Markets dropped their target price on shares of SolarEdge Technologies from $368.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $321.14.

Read Our Latest Stock Report on SEDG

SolarEdge Technologies Stock Down 1.2 %

SolarEdge Technologies stock opened at $134.60 on Thursday. SolarEdge Technologies has a fifty-two week low of $132.79 and a fifty-two week high of $345.80. The stock has a market cap of $7.61 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41. The firm’s 50-day simple moving average is $184.10 and its 200 day simple moving average is $251.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.75 and a current ratio of 3.84.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.01. SolarEdge Technologies had a net margin of 8.29% and a return on equity of 18.19%. The business had revenue of $991.29 million for the quarter, compared to analysts’ expectations of $989.17 million. Research analysts predict that SolarEdge Technologies will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ronen Faier bought 875 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average price of $180.10 per share, with a total value of $157,587.50. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.17% of the stock is currently owned by insiders.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alta Advisers Ltd bought a new stake in SolarEdge Technologies during the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of SolarEdge Technologies in the 2nd quarter worth $27,000. Quarry LP bought a new position in shares of SolarEdge Technologies in the 1st quarter worth $27,000. Harbour Investments Inc. increased its holdings in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after buying an additional 50 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of SolarEdge Technologies in the 1st quarter worth $29,000. Institutional investors own 86.11% of the company’s stock.

SolarEdge Technologies Company Profile

(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.