Other equities analysts have also recently issued reports about the company. Needham & Company LLC began coverage on Solaredge Technologies in a research report on Monday, December 2nd. They set a buy rating and a $102.00 price target on the stock. Zacks Investment Research cut Solaredge Technologies from a buy rating to a hold rating in a report on Wednesday, January 8th. ValuEngine upgraded Solaredge Technologies from a sell rating to a hold rating in a report on Monday, December 16th. Canaccord Genuity lifted their target price on Solaredge Technologies from $78.00 to $88.00 and gave the stock a buy rating in a report on Monday, November 4th. Finally, Cascend Securities lifted their target price on Solaredge Technologies from $100.00 to $120.00 and gave the stock a buy rating in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $93.31.
Shares of NASDAQ SEDG traded down $3.97 during mid-day trading on Friday, hitting $102.02. The company had a trading volume of 23,988 shares, compared to its average volume of 833,692. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 1.17 and a beta of 0.06. Solaredge Technologies has a 12 month low of $36.28 and a 12 month high of $112.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The firm’s 50 day simple moving average is $97.14 and its two-hundred day simple moving average is $83.53.
In other news, CEO Zvi Lando sold 28,603 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $77.95, for a total value of $2,229,603.85. Also, VP Rachel Prishkolnik sold 7,833 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $77.02, for a total value of $603,297.66. Following the completion of the sale, the vice president now directly owns 46,851 shares of the company’s stock, valued at approximately $3,608,464.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,211 shares of company stock valued at $16,307,590. 7.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Phoenix Holdings Ltd. acquired a new stake in Solaredge Technologies during the third quarter valued at $52,201,000. Morgan Stanley boosted its position in Solaredge Technologies by 122.6% during the second quarter. Morgan Stanley now owns 519,044 shares of the semiconductor company’s stock valued at $32,419,000 after purchasing an additional 285,912 shares during the last quarter. KAMES CAPITAL plc boosted its position in Solaredge Technologies by 87.9% during the third quarter. KAMES CAPITAL plc now owns 512,928 shares of the semiconductor company’s stock valued at $42,942,000 after purchasing an additional 239,948 shares during the last quarter. BlackRock Inc. boosted its position in Solaredge Technologies by 2.8% during the second quarter. BlackRock Inc. now owns 4,840,757 shares of the semiconductor company’s stock valued at $302,353,000 after purchasing an additional 131,352 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in Solaredge Technologies during the third quarter valued at about $9,855,000. 79.76% of the stock is owned by hedge funds and other institutional investors.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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