SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Glj Research

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by equities researchers at Glj Research from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Royal Bank of Canada decreased their price objective on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Bank of America lowered shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Citigroup dropped their price target on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.40.

SolarEdge Technologies Trading Down 5.3 %

NASDAQ:SEDG opened at $13.11 on Tuesday. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $102.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The business has a 50 day simple moving average of $14.79 and a 200 day simple moving average of $22.78. The firm has a market capitalization of $759.72 million, a P/E ratio of -0.45 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly 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 firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm’s revenue was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.03) EPS. Equities research analysts predict that SolarEdge Technologies will post -19.18 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $36,627,000. Marshall Wace LLP grew its holdings in SolarEdge Technologies by 425.1% during the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after purchasing an additional 450,081 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of SolarEdge Technologies in the third quarter valued at approximately $5,293,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after buying an additional 220,304 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of SolarEdge Technologies by 1,634.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after buying an additional 202,010 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.