SolarEdge Technologies (NASDAQ:SEDG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a sell rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada raised their target price on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, September 11th. BMO Capital Markets dropped their target price on shares of SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, October 21st. Morgan Stanley cut their target price on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Finally, Mizuho upped their price target on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $38.53.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $32.88 on Friday. The business has a 50 day moving average price of $32.91 and a 200 day moving average price of $42.20. The company has a market capitalization of $2.02 billion, a P/E ratio of -7.31 and a beta of 1.31. SolarEdge Technologies has a 1-year low of $28.11 and a 1-year high of $81.25. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. During the same period in the previous year, the business earned ($0.81) earnings per share. SolarEdge Technologies’s quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts expect that SolarEdge Technologies will post -1.21 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $76,095,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of SolarEdge Technologies during the 2nd quarter worth $55,514,000. Meitav Investment House Ltd. lifted its stake in shares of SolarEdge Technologies by 541.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock worth $51,946,000 after purchasing an additional 858,954 shares during the period. Bank of America Corp DE lifted its stake in shares of SolarEdge Technologies by 218.6% during the 1st quarter. Bank of America Corp DE now owns 404,297 shares of the semiconductor company’s stock worth $20,639,000 after purchasing an additional 277,385 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of SolarEdge Technologies by 303.2% during the first quarter. Dimensional Fund Advisors LP now owns 314,066 shares of the semiconductor company’s stock worth $16,031,000 after purchasing an additional 236,176 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.