SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

SolarEdge Technologies (NASDAQ:SEDG) had its target price increased by The Goldman Sachs Group from $19.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on SEDG. Jefferies Financial Group lowered SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Piper Sandler lowered SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $17.00 to $9.00 in a research note on Thursday, November 7th. Barclays reduced their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Finally, Truist Financial reduced their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.16.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $14.99 on Tuesday. The stock has a fifty day moving average price of $14.05 and a two-hundred day moving average price of $19.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market cap of $868.67 million, a P/E ratio of -0.52 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 158.19% and a negative return on equity of 65.79%. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.03) earnings per share. Research analysts forecast that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman More Avery bought 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV grew its position in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 4,567 shares during the last quarter. US Bancorp DE grew its position in shares of SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the last quarter. GFG Capital LLC acquired a new stake in SolarEdge Technologies during the third quarter worth about $229,000. Finally, Magnetar Financial LLC acquired a new stake in SolarEdge Technologies during the second quarter worth about $286,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.