B. Riley Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $124.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by B. Riley from $133.00 to $124.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research analysts have also weighed in on SEDG. TD Cowen lowered their target price on shares of SolarEdge Technologies from $120.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday, February 21st. StockNews.com raised SolarEdge Technologies to a sell rating in a report on Thursday, December 28th. Barclays raised their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research report on Tuesday, April 16th. DZ Bank began coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They issued a hold rating and a $62.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a hold rating for the company in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $98.38.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $54.51 on Monday. SolarEdge Technologies has a 12 month low of $53.59 and a 12 month high of $321.33. The firm has a market capitalization of $3.11 billion, a P/E ratio of 121.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company’s fifty day moving average price is $68.82 and its 200 day moving average price is $78.74.

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, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, sell-side analysts predict that SolarEdge Technologies will post -4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in SEDG. Altfest L J & Co. Inc. raised its position in shares of SolarEdge Technologies by 24.6% in the 1st quarter. Altfest L J & Co. Inc. now owns 5,056 shares of the semiconductor company’s stock worth $359,000 after buying an additional 998 shares during the period. Albion Financial Group UT raised its holdings in shares of SolarEdge Technologies by 32.2% in the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 955 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of SolarEdge Technologies by 120.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 610 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $350,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of SolarEdge Technologies during the 1st quarter worth about $5,062,000. 95.10% of the stock is owned by hedge funds and other 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.