SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Glj Research

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by analysts at Glj Research from a “strong sell” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

SEDG has been the topic of a number of other reports. Susquehanna cut their price objective on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Mizuho cut SolarEdge Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. TD Cowen lowered their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Guggenheim upgraded SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Seven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.40.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $13.11 on Tuesday. SolarEdge Technologies has a one year low of $10.24 and a one year high of $102.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The stock’s fifty day moving average is $14.79 and its 200-day moving average is $22.78. The firm has a market capitalization of $759.72 million, a price-to-earnings ratio of -0.45 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter in the previous year, the company earned ($1.03) EPS. SolarEdge Technologies’s revenue for the quarter was down 64.0% on a year-over-year basis. Equities analysts anticipate that SolarEdge Technologies will post -19.18 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman More Avery purchased 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

SolarEdge Technologies Company Profile

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.