SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, Barclays Analyst Says

SolarEdge Technologies (NASDAQ:SEDG) had its price target upped by analysts at Barclays from $7.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential downside of 31.03% from the stock’s current price.

Several other research firms have also recently weighed in on SEDG. UBS Group decreased their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Truist Financial cut their price target on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Finally, Citigroup restated a “sell” rating and issued a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus price target of $21.28.

SolarEdge Technologies Trading Up 1.8 %

Shares of NASDAQ:SEDG opened at $14.50 on Tuesday. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $87.98. The company’s 50 day moving average is $13.82 and its two-hundred day moving average is $19.52. The company has a market cap of $840.28 million, a PE ratio of -0.50 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s quarterly revenue was down 64.0% compared to the same quarter last year. During the same period last year, the company earned ($1.03) EPS. Equities analysts predict that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman More Avery bought 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently modified their holdings of the company. KBC Group NV raised its holdings in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the last quarter. GAMMA Investing LLC increased its position in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 4,567 shares in the last quarter. US Bancorp DE raised its stake in shares of SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after buying an additional 4,834 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of SolarEdge Technologies in the 3rd quarter worth about $229,000. Finally, Magnetar Financial LLC acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at about $286,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.