SolarEdge Technologies (NASDAQ:SEDG) Coverage Initiated by Analysts at DZ Bank

DZ Bank began coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $62.00 price objective on the semiconductor company’s stock.

SEDG has been the subject of several other reports. Piper Sandler reduced their price target on SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Citigroup reduced their price target on SolarEdge Technologies from $89.00 to $83.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. B. Riley reduced their price target on SolarEdge Technologies from $166.00 to $133.00 and set a buy rating for the company in a research report on Monday, February 5th. Janney Montgomery Scott lowered SolarEdge Technologies from a buy rating to a neutral rating in a research report on Friday, March 22nd. Finally, Mizuho reduced their price target on SolarEdge Technologies from $119.00 to $106.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $98.81.

SolarEdge Technologies Trading Up 0.4 %

Shares of NASDAQ SEDG opened at $59.74 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $80.44. The firm has a market cap of $3.41 billion, a PE ratio of 132.76 and a beta of 1.51. SolarEdge Technologies has a twelve month low of $57.72 and a twelve month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Analysts expect that SolarEdge Technologies will post -4.04 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in SolarEdge Technologies by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,162 shares of the semiconductor company’s stock worth $329,000 after purchasing an additional 39 shares during the period. United Capital Financial Advisers LLC raised its holdings in SolarEdge Technologies by 2.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock worth $772,000 after purchasing an additional 46 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in SolarEdge Technologies by 49.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 48 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in SolarEdge Technologies by 5.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 1,011 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 49 shares during the period. Finally, Harbour Investments Inc. raised its holdings in SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.