SolarEdge Technologies (NASDAQ:SEDG) Receives Sell Rating from Glj Research

Glj Research restated their sell rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report report published on Friday,Benzinga reports. The brokerage currently has a $3.90 price objective on the semiconductor company’s stock.

SEDG has been the topic of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Piper Sandler lowered shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $27.00 to $17.00 in a report on Tuesday, September 17th. Susquehanna reduced their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, TD Cowen lowered their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.04.

SolarEdge Technologies Stock Up 6.3 %

Shares of NASDAQ:SEDG opened at $15.80 on Friday. The firm has a fifty day moving average price of $16.73 and a two-hundred day moving average price of $26.07. The company has a market cap of $915.61 million, a price-to-earnings ratio of -0.54 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies has a one year low of $10.24 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s quarterly revenue was down 64.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.03) EPS. Analysts anticipate that SolarEdge Technologies will post -19.05 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Vanguard Group Inc. lifted its holdings in SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after buying an additional 62,942 shares during the period. Quarry LP bought a new position in shares of SolarEdge Technologies in the 2nd quarter worth approximately $36,627,000. Two Sigma Advisers LP lifted its stake in shares of SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after purchasing an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after purchasing an additional 2,795 shares in the last quarter. Finally, M&G PLC grew its stake in SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after purchasing an additional 38,001 shares during the period. 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.