SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up – Still a Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.28, but opened at $17.52. SolarEdge Technologies shares last traded at $18.36, with a volume of 2,418,227 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on SEDG shares. Morgan Stanley reissued an “underweight” rating and issued a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. UBS Group lowered their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Barclays cut their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.32.

SolarEdge Technologies Trading Up 8.0 %

The stock has a market cap of $1.02 billion, a P/E ratio of -0.61 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The business’s 50 day simple moving average is $14.13 and its 200 day simple moving average is $19.95.

SolarEdge Technologies (NASDAQ:SEDG) last issued 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). The company had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s quarterly revenue was down 64.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.03) earnings per share. On average, analysts expect that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently bought and sold shares of the business. KBC Group NV raised its position in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 4,567 shares in the last quarter. US Bancorp DE raised its holdings in shares of SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,834 shares during the last quarter. GFG Capital LLC acquired a new position in SolarEdge Technologies during the 3rd quarter worth about $229,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in SolarEdge Technologies during the 3rd quarter worth about $278,000. 95.10% of the stock is currently owned by institutional investors.

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.