SolarEdge Technologies Inc. (NASDAQ:SEDG)‘s stock had its “buy” rating reaffirmed by JMP Securities in a note issued to investors on Friday.
Several other analysts have also commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $27.00 price objective on shares of SolarEdge Technologies in a report on Friday. Needham & Company LLC decreased their price objective on SolarEdge Technologies from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, September 14th. Barclays PLC lowered SolarEdge Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, August 25th. Deutsche Bank AG decreased their price objective on SolarEdge Technologies from $27.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, FBR & Co decreased their price objective on SolarEdge Technologies from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $26.27.
Shares of SolarEdge Technologies (NASDAQ:SEDG) traded up 3.40% on Friday, reaching $16.12. The company’s stock had a trading volume of 317,325 shares. SolarEdge Technologies has a one year low of $14.41 and a one year high of $30.50. The firm has a market capitalization of $659.28 million, a PE ratio of 9.32 and a beta of -0.44. The firm has a 50-day moving average price of $17.00 and a 200 day moving average price of $20.99.
SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, August 9th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company earned $124.80 million during the quarter, compared to analyst estimates of $129.63 million. SolarEdge Technologies had a return on equity of 31.51% and a net margin of 15.64%. SolarEdge Technologies’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, analysts anticipate that SolarEdge Technologies will post $1.89 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in SEDG. Royal Bank of Canada acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $251,000. Seven Eight Capital LLC acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $254,000. LPL Financial LLC acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $805,000. Nuveen Asset Management LLC acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $3,360,000. Finally, Geode Capital Management LLC boosted its stake in SolarEdge Technologies by 1.3% in the first quarter. Geode Capital Management LLC now owns 55,312 shares of the company’s stock worth $1,390,000 after buying an additional 722 shares during the period. 60.46% of the stock is currently owned by institutional investors.
SolarEdge Technologies Company Profile
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.
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