SolarEdge Technologies (NASDAQ:SEDG) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a sell rating to a buy rating in a research report released on Tuesday morning, MarketBeat reports. The firm currently has $19.00 price objective on the semiconductor company’s stock, up from their previous price objective of $10.00.

Other analysts also recently issued reports about the company. Roth Mkm cut their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays dropped their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Guggenheim upgraded SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $21.00 to $14.00 in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $22.40.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $13.11 on Tuesday. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $102.62. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $759.72 million, a P/E ratio of -0.45 and a beta of 1.56. The stock’s 50 day moving average is $14.79 and its 200 day moving average is $22.78.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly 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 firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.03) EPS. On average, equities research analysts predict that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Yelin Lapidot Holdings Management Ltd. grew its holdings in SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in SolarEdge Technologies by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 700 shares in the last quarter. Bank Hapoalim BM increased its holdings in SolarEdge Technologies by 2.5% in the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after acquiring an additional 812 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the 2nd quarter worth $28,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of SolarEdge Technologies by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after purchasing an additional 1,175 shares during the last quarter. 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.