SolarEdge Technologies’ (SEDG) Sell Rating Reaffirmed at Axiom Securities
SolarEdge Technologies, Inc. (NASDAQ:SEDG)‘s stock had its “sell” rating reiterated by analysts at Axiom Securities in a report issued on Thursday.
Other analysts have also issued research reports about the stock. FBR & Co set a $18.00 price target on shares of SolarEdge Technologies and gave the stock a “hold” rating in a research note on Saturday, May 13th. JMP Securities restated an “outperform” rating on shares of SolarEdge Technologies in a research note on Thursday, August 3rd. Roth Capital set a $16.00 price target on shares of SolarEdge Technologies and gave the stock a “hold” rating in a research note on Wednesday, May 10th. CIBC upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of SolarEdge Technologies from $25.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.11.
SolarEdge Technologies (SEDG) traded up 0.75% on Thursday, hitting $26.80. 385,463 shares of the company were exchanged. The firm has a 50 day moving average of $24.58 and a 200-day moving average of $18.60. The stock has a market cap of $1.13 billion, a PE ratio of 23.76 and a beta of 0.04. SolarEdge Technologies has a 52-week low of $11.35 and a 52-week high of $28.80.
SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.18. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The business had revenue of $136.10 million for the quarter, compared to analysts’ expectations of $125.07 million. During the same period in the previous year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts expect that SolarEdge Technologies will post $1.84 earnings per share for the current fiscal year.
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In other SolarEdge Technologies news, Director Doron Inbar sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the director now owns 223,333 shares in the company, valued at $6,253,324. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronen Faier sold 20,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $27.24, for a total transaction of $544,800.00. Following the sale, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $2,724,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,000 shares of company stock valued at $4,139,054. 16.40% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares during the last quarter. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies during the second quarter valued at $20,180,000. Janus Henderson Group PLC raised its stake in SolarEdge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after buying an additional 770,166 shares during the last quarter. Sylebra HK Co Ltd raised its stake in SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock valued at $33,097,000 after buying an additional 412,073 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after buying an additional 305,179 shares during the last quarter. Hedge funds and other institutional investors own 57.80% 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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