A number of other research firms also recently weighed in on SEDG. Goldman Sachs Group raised Solaredge Technologies from a sell rating to a neutral rating and increased their target price for the company from $35.00 to $52.00 in a report on Monday, June 17th. Canaccord Genuity increased their target price on Solaredge Technologies from $62.00 to $68.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Cowen set a $85.00 target price on Solaredge Technologies and gave the company a buy rating in a report on Wednesday, August 7th. TheStreet raised Solaredge Technologies from a c+ rating to a b- rating in a report on Wednesday, August 7th. Finally, Oppenheimer increased their target price on Solaredge Technologies from $66.00 to $78.00 and gave the company an outperform rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $75.86.
SEDG stock traded up $3.18 during trading on Tuesday, reaching $74.82. The stock had a trading volume of 42,443 shares, compared to its average volume of 981,324. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $89.43. The stock’s 50 day moving average is $76.81 and its two-hundred day moving average is $56.52. The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.60 billion, a PE ratio of 27.80, a PEG ratio of 1.14 and a beta of 0.06.
Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The company had revenue of $325.00 million for the quarter, compared to the consensus estimate of $315.53 million. During the same quarter in the prior year, the company earned $0.82 earnings per share. Solaredge Technologies’s revenue was up 43.1% on a year-over-year basis. On average, research analysts anticipate that Solaredge Technologies will post 2.99 EPS for the current year.
In other Solaredge Technologies news, Director Doron Inbar sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $86.80, for a total value of $1,736,000.00. Following the completion of the sale, the director now owns 45,712 shares in the company, valued at $3,967,801.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Ronen Faier sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $84.63, for a total value of $4,231,500.00. Following the completion of the sale, the chief financial officer now owns 124,200 shares of the company’s stock, valued at approximately $10,511,046. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,995 shares of company stock valued at $17,894,851. Company insiders own 7.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Pathstone Family Office LLC purchased a new stake in Solaredge Technologies in the second quarter worth about $31,000. C M Bidwell & Associates Ltd. purchased a new stake in Solaredge Technologies in the second quarter worth about $32,000. Westside Investment Management Inc. purchased a new stake in Solaredge Technologies in the second quarter worth about $35,000. Tower Research Capital LLC TRC purchased a new stake in Solaredge Technologies in the second quarter worth about $69,000. Finally, NumerixS Investment Technologies Inc increased its position in Solaredge Technologies by 44.4% in the first quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock worth $98,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.
About Solaredge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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