SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 9.8%

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) were up 9.8% during trading on Thursday . The company traded as high as $27.68 and last traded at $27.63. Approximately 2,428,629 shares changed hands during trading, a decline of 23% from the average daily volume of 3,140,452 shares. The stock had previously closed at $25.17.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SEDG shares. Mizuho reduced their price objective on shares of SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Canaccord Genuity Group reduced their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, June 25th. DZ Bank cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price for the company. in a research report on Wednesday, July 17th. Scotiabank reduced their target price on shares of SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group reduced their target price on shares of SolarEdge Technologies from $49.00 to $25.00 and set a “sell” rating for the company in a research report on Thursday, June 27th. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $69.58.

SolarEdge Technologies Stock Performance

The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -5.93 and a beta of 1.52. The company has a 50 day simple moving average of $36.07 and a 200 day simple moving average of $56.34.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The business had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. As a group, equities research analysts forecast that SolarEdge Technologies, Inc. will post -6.76 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SEDG. Altfest L J & Co. Inc. bought a new position in SolarEdge Technologies in the 4th quarter valued at approximately $380,000. State of Alaska Department of Revenue increased its position in SolarEdge Technologies by 419.9% during the 4th quarter. State of Alaska Department of Revenue now owns 34,950 shares of the semiconductor company’s stock valued at $3,271,000 after purchasing an additional 28,227 shares during the period. Fifth Third Bancorp increased its position in SolarEdge Technologies by 33.0% during the 4th quarter. Fifth Third Bancorp now owns 4,105 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 1,019 shares during the period. Arizona State Retirement System increased its position in SolarEdge Technologies by 2.9% during the 4th quarter. Arizona State Retirement System now owns 15,811 shares of the semiconductor company’s stock valued at $1,480,000 after purchasing an additional 440 shares during the period. Finally, International Assets Investment Management LLC increased its position in SolarEdge Technologies by 20,293.3% during the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after purchasing an additional 103,293 shares during the period. Institutional investors 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.