SolarEdge Technologies (NASDAQ:SEDG) Upgraded to “Strong-Buy” at Glj Research

Glj Research upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a strong sell rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also commented on SEDG. TD Cowen reduced their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. William Blair initiated coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Seven research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $22.40.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $13.11 on Tuesday. The business’s 50-day moving average is $14.79 and its 200 day moving average is $22.78. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $102.62. The company has a market capitalization of $759.72 million, a P/E ratio of -0.45 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s revenue was down 64.0% compared to the same quarter last year. During the same period last year, the company earned ($1.03) EPS. On average, equities research analysts forecast that SolarEdge Technologies 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 firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in SolarEdge Technologies during the 2nd quarter worth $36,627,000. Marshall Wace LLP increased its holdings in shares of SolarEdge Technologies by 425.1% in the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after purchasing an additional 450,081 shares during the period. Soros Fund Management LLC acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $5,293,000. Connor Clark & Lunn Investment Management Ltd. raised its position in SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after buying an additional 220,304 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after purchasing an additional 202,010 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.