SolarEdge Technologies (NASDAQ:SEDG) Shares Up 8% on Analyst Upgrade

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) shot up 8% during trading on Tuesday after Bank of America upgraded the stock from an underperform rating to a neutral rating. Bank of America now has a $40.00 price target on the stock, up from their previous price target of $17.00. SolarEdge Technologies traded as high as $37.86 and last traded at $37.3690. 1,465,827 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 3,183,100 shares. The stock had previously closed at $34.59.

SEDG has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SolarEdge Technologies in a research report on Monday, December 29th. The Goldman Sachs Group raised their target price on shares of SolarEdge Technologies from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Raymond James Financial started coverage on SolarEdge Technologies in a research report on Tuesday, January 13th. They set a “market perform” rating on the stock. Jefferies Financial Group reissued an “underperform” rating on shares of SolarEdge Technologies in a research report on Wednesday, January 21st. Finally, Citigroup lowered their price target on SolarEdge Technologies from $30.00 to $29.00 and set a “sell” rating on the stock in a research note on Thursday, December 18th. One research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $27.68.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in SolarEdge Technologies by 8.7% in the first quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company’s stock valued at $16,147,000 after acquiring an additional 79,461 shares during the period. Bank of Montreal Can raised its holdings in shares of SolarEdge Technologies by 10.2% during the second quarter. Bank of Montreal Can now owns 26,637 shares of the semiconductor company’s stock worth $543,000 after acquiring an additional 2,468 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in SolarEdge Technologies by 6.7% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 6,472 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 404 shares during the period. Geode Capital Management LLC boosted its stake in SolarEdge Technologies by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 749,589 shares of the semiconductor company’s stock worth $15,295,000 after purchasing an additional 7,552 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in SolarEdge Technologies by 2.9% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 54,133 shares of the semiconductor company’s stock valued at $1,158,000 after acquiring an additional 1,523 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 9.4%

The stock’s fifty day moving average price is $34.63 and its 200-day moving average price is $34.65. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -5.47 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, February 18th. The semiconductor company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. SolarEdge Technologies had a negative net margin of 34.23% and a negative return on equity of 45.54%. The business had revenue of $333.80 million during the quarter, compared to the consensus estimate of $330.33 million. During the same quarter last year, the firm earned ($3.52) earnings per share. The firm’s revenue for the quarter was up 70.9% compared to the same quarter last year. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

About SolarEdge Technologies

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.