SolarEdge Technologies (NASDAQ:SEDG) Coverage Initiated by Analysts at DZ Bank

Investment analysts at DZ Bank assumed coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $62.00 price target on the semiconductor company’s stock. DZ Bank’s target price would indicate a potential upside of 8.03% from the company’s previous close.

A number of other brokerages also recently issued reports on SEDG. Scotiabank cut their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Truist Financial cut their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Barclays upped their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Finally, TD Cowen dropped their target price on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.81.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $57.39 on Wednesday. SolarEdge Technologies has a 1-year low of $57.06 and a 1-year high of $321.61. The firm has a fifty day simple moving average of $69.84 and a two-hundred day simple moving average of $80.28. 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 $3.28 billion, a PE ratio of 127.53 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, equities analysts anticipate that SolarEdge Technologies will post -4.04 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of SolarEdge Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position in SolarEdge Technologies by 120.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 610 shares during the period. Brookstone Capital Management bought a new stake in shares of SolarEdge Technologies during the first quarter valued at approximately $350,000. Global Assets Advisory LLC bought a new stake in shares of SolarEdge Technologies during the first quarter valued at approximately $5,062,000. Green Alpha Advisors LLC raised its stake in shares of 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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.