SolarEdge Technologies’ (SEDG) Sell Rating Reaffirmed at Glj Research

Glj Research reissued their sell rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note published on Friday,Benzinga reports. They currently have a $3.90 price target on the semiconductor company’s stock.

SEDG has been the topic of several other research reports. UBS Group dropped their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets dropped their price target on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. 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. Canaccord Genuity Group dropped their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Susquehanna reduced their price target on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.04.

SolarEdge Technologies Stock Up 6.3 %

NASDAQ:SEDG opened at $15.80 on Friday. The company has a market cap of $915.61 million, a price-to-earnings ratio of -0.55 and a beta of 1.59. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $103.15. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $16.82 and a 200-day simple moving average of $26.51.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The company 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 company’s quarterly revenue was down 64.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.03) EPS. Analysts anticipate that SolarEdge Technologies will post -19.05 EPS for the current year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by insiders.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. AMG National Trust Bank acquired a new position in SolarEdge Technologies during the third quarter valued at $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after buying an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the period. Meitav Investment House Ltd. boosted its stake in shares of SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in SolarEdge Technologies during the third quarter worth about $1,495,000. 95.10% of the stock is currently 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.