Solaredge Technologies (SEDG) Lowered to “Hold” at Zacks Investment Research
Solaredge Technologies (NASDAQ:SEDG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Deutsche Bank downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Monday, November 27th. Roth Capital raised their price target on shares of Solaredge Technologies from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. raised their price target on shares of Solaredge Technologies to $43.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Finally, Needham & Company LLC raised their price target on shares of Solaredge Technologies from $30.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Solaredge Technologies has an average rating of “Buy” and an average target price of $34.19.
Shares of Solaredge Technologies (NASDAQ SEDG) traded down $0.30 during midday trading on Wednesday, hitting $36.90. 67,379 shares of the company’s stock were exchanged, compared to its average volume of 672,850. Solaredge Technologies has a fifty-two week low of $12.25 and a fifty-two week high of $39.90. The company has a market capitalization of $1,600.00 and a P/E ratio of 22.23.
In related news, VP Yoav Galin sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $34.07, for a total value of $228,269.00. Following the sale, the vice president now owns 25,000 shares in the company, valued at $851,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Zvi Lando sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $30.36, for a total transaction of $303,600.00. Following the completion of the sale, the vice president now owns 48,333 shares in the company, valued at approximately $1,467,389.88. The disclosure for this sale can be found here. Insiders sold 166,320 shares of company stock worth $6,139,399 in the last 90 days. 16.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth $447,000. GSA Capital Partners LLP purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth $511,000. Argent Capital Management LLC boosted its stake in shares of Solaredge Technologies by 128.4% during the 3rd quarter. Argent Capital Management LLC now owns 97,185 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 54,640 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth $220,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Solaredge Technologies during the 3rd quarter worth $325,000. Institutional investors and hedge funds own 67.53% of the company’s stock.
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Solaredge Technologies Company Profile
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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