SolarEdge Technologies Inc. (SEDG) Coverage Initiated at Craig Hallum
Research analysts at Craig Hallum started coverage on shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) in a research report issued to clients and investors on Monday. The firm set a “sell” rating and a $7.00 price target on the stock. Craig Hallum’s price objective would suggest a potential downside of 48.34% from the stock’s previous close.
A number of other research analysts have also weighed in on SEDG. Roth Capital lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday, November 10th. Needham & Company LLC decreased their price objective on shares of SolarEdge Technologies from $36.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Barclays PLC restated an “overweight” rating on shares of SolarEdge Technologies in a report on Thursday, November 10th. JMP Securities restated a “buy” rating on shares of SolarEdge Technologies in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. restated a “sell” rating and set a $13.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $20.92.
Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 13.55 on Monday. The firm has a 50-day moving average of $14.89 and a 200-day moving average of $17.92. The company has a market cap of $556.40 million, a P/E ratio of 7.69 and a beta of -0.22. SolarEdge Technologies has a 12-month low of $11.35 and a 12-month high of $30.50.
SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. SolarEdge Technologies had a net margin of 15.46% and a return on equity of 29.93%. The company had revenue of $128.50 million for the quarter, compared to analyst estimates of $132.28 million. During the same period last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts predict that SolarEdge Technologies will post $1.59 EPS for the current year.
A number of large investors have recently made changes to their positions in SEDG. Guinness Asset Management Ltd raised its stake in shares of SolarEdge Technologies by 42.1% in the second quarter. Guinness Asset Management Ltd now owns 8,100 shares of the company’s stock valued at $159,000 after buying an additional 2,400 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of SolarEdge Technologies during the second quarter valued at about $196,000. Raymond James & Associates bought a new stake in shares of SolarEdge Technologies during the second quarter valued at about $207,000. Firsthand Capital Management Inc. bought a new stake in shares of SolarEdge Technologies during the second quarter valued at about $216,000. Finally, Quotient Investors LLC bought a new stake in shares of SolarEdge Technologies during the second quarter valued at about $220,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
About SolarEdge Technologies
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.
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