Solaredge Technologies Inc (SEDG) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have been given a consensus recommendation of “Buy” by the twenty analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $34.96.
SEDG has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Solaredge Technologies in a research report on Tuesday, September 12th. Zacks Investment Research lowered Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Roth Capital set a $30.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Sunday, October 15th. ValuEngine lowered Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. raised their price target on Solaredge Technologies from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st.
In other news, VP Meir Adest sold 4,700 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $35.02, for a total value of $164,594.00. Following the sale, the vice president now directly owns 20,633 shares in the company, valued at $722,567.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lior Handelsman sold 5,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $36.25, for a total value of $181,250.00. Following the completion of the sale, the vice president now owns 177,950 shares in the company, valued at $6,450,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,320 shares of company stock worth $6,139,399. Insiders own 16.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Solaredge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares in the last quarter. Spears Abacus Advisors LLC acquired a new stake in Solaredge Technologies in the second quarter valued at $366,000. Columbus Circle Investors acquired a new stake in Solaredge Technologies in the third quarter valued at $4,557,000. Goldman Sachs Group Inc. raised its stake in Solaredge Technologies by 143.7% in the second quarter. Goldman Sachs Group Inc. now owns 341,115 shares of the semiconductor company’s stock valued at $6,822,000 after buying an additional 201,146 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Solaredge Technologies by 199.5% in the third quarter. JPMorgan Chase & Co. now owns 121,408 shares of the semiconductor company’s stock valued at $3,497,000 after buying an additional 80,871 shares in the last quarter. Institutional investors own 67.53% of the company’s stock.
Solaredge Technologies (NASDAQ:SEDG) traded up $0.55 on Monday, hitting $37.90. The stock had a trading volume of 553,200 shares, compared to its average volume of 720,650. Solaredge Technologies has a 1-year low of $12.25 and a 1-year high of $39.90. The stock has a market capitalization of $1,640.00 and a price-to-earnings ratio of 22.83.
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About Solaredge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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