SolarEdge Technologies (NASDAQ:SEDG) Sets New 1-Year Low at $58.04

SolarEdge Technologies, Inc. (NASDAQ:SEDG) reached a new 52-week low on Tuesday . The stock traded as low as $58.04 and last traded at $58.05, with a volume of 252018 shares. The stock had previously closed at $60.44.

Analysts Set New Price Targets

Several equities analysts have weighed in on SEDG shares. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Thursday, December 28th. Barclays lifted their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a report on Wednesday, January 24th. TD Cowen cut their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group initiated coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective for the company. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $98.81.

SolarEdge Technologies Stock Up 0.4 %

The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 132.76 and a beta of 1.51. The firm has a 50-day moving average of $70.20 and a two-hundred day moving average of $80.44.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. As a group, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management bought a new position in SolarEdge Technologies during the first quarter valued at about $350,000. Global Assets Advisory LLC bought a new position in SolarEdge Technologies during the first quarter valued at about $5,062,000. Green Alpha Advisors LLC increased its stake in SolarEdge Technologies by 2.7% during the first quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock valued at $726,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC grew its stake in shares of SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 289 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 640 shares during the period. 95.10% of the stock is currently owned by institutional investors.

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.