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 report issued on Sunday,Wall Street Zen reports.

Several other analysts have also weighed in on SEDG. Mizuho increased their price target on SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Morgan Stanley dropped their price objective on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Royal Bank Of Canada lifted their price objective on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, September 11th. Citigroup increased their target price on shares of SolarEdge Technologies from $25.00 to $30.00 and gave the company a “sell” rating in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of SolarEdge Technologies from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $39.13.

SolarEdge Technologies Trading Up 3.3%

Shares of NASDAQ SEDG opened at $32.53 on Friday. The business’s 50 day moving average is $33.04 and its two-hundred day moving average is $45.21. 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 has a 1-year low of $28.21 and a 1-year high of $81.25. The stock has a market capitalization of $2.00 billion, a P/E ratio of -7.23 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.81) earnings per share. As a group, research analysts expect that SolarEdge Technologies will post -1.20 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Large investors have recently made changes to their positions in the stock. State of Wyoming raised its holdings in shares of SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 306 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of SolarEdge Technologies by 18.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 479 shares during the period. Allworth Financial LP purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter worth approximately $31,000. Nykredit A S bought a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $36,000. Finally, Swiss National Bank boosted its stake in shares of SolarEdge Technologies by 0.9% during the first quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company’s stock valued at $6,034,000 after purchasing an additional 1,100 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.