SolarEdge Technologies, Inc. (SEDG) Receives Sell Rating from Axiom Securities
SolarEdge Technologies, Inc. (NASDAQ:SEDG)‘s stock had its “sell” rating reiterated by equities research analysts at Axiom Securities in a research report issued to clients and investors on Friday, June 9th.
Several other research analysts have also recently commented on the company. ValuEngine cut SolarEdge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co set a $18.00 target price on SolarEdge Technologies and gave the stock a “hold” rating in a research report on Saturday, May 13th. Zacks Investment Research raised SolarEdge Technologies from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Saturday, May 13th. Roth Capital set a $16.00 target price on SolarEdge Technologies and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Finally, Cowen and Company set a $21.00 target price on SolarEdge Technologies and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $18.89.
Shares of SolarEdge Technologies (NASDAQ SEDG) traded up 0.78% during mid-day trading on Friday, hitting $19.45. 455,723 shares of the company’s stock were exchanged. The company has a market capitalization of $808.23 million, a price-to-earnings ratio of 19.33 and a beta of -0.03. The firm has a 50 day moving average price of $17.94 and a 200-day moving average price of $15.05. SolarEdge Technologies has a 52 week low of $11.35 and a 52 week high of $21.53.
SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. The firm had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $114.10 million. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. SolarEdge Technologies’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that SolarEdge Technologies will post $1.45 EPS for the current year.
In other news, Director More Avery sold 20,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $19.30, for a total value of $386,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yoav Galin sold 120,000 shares of the firm’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $14.27, for a total value of $1,712,400.00. Following the completion of the sale, the vice president now owns 540,838 shares of the company’s stock, valued at $7,717,758.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,018 shares of company stock valued at $2,117,192. 16.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SEDG. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $173,000. AQR Capital Management LLC acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth $138,000. Koch Industries Inc. acquired a new stake in shares of SolarEdge Technologies during the fourth quarter worth $141,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $178,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $196,000. Institutional investors own 55.61% of the company’s stock.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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