Solaredge Technologies (SEDG) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Solaredge Technologies (NASDAQ:SEDG) from a strong sell rating to a sell rating in a report released on Tuesday morning.

Several other research firms also recently issued reports on SEDG. Roth Capital set a $60.00 price objective on Solaredge Technologies and gave the stock a buy rating in a report on Friday, August 3rd. Cowen reaffirmed a buy rating and set a $57.00 price objective on shares of Solaredge Technologies in a report on Friday, August 3rd. ValuEngine downgraded Solaredge Technologies from a buy rating to a hold rating in a report on Friday, August 3rd. Zacks Investment Research downgraded Solaredge Technologies from a buy rating to a hold rating in a research note on Thursday, August 9th. Finally, B. Riley set a $64.00 price target on Solaredge Technologies and gave the company a buy rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Solaredge Technologies currently has an average rating of Hold and an average target price of $58.09.

NASDAQ:SEDG opened at $40.27 on Tuesday. Solaredge Technologies has a 52-week low of $29.95 and a 52-week high of $70.74. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.68 and a beta of -0.48.

Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.09. Solaredge Technologies had a return on equity of 32.26% and a net margin of 14.85%. The firm had revenue of $227.10 million for the quarter, compared to the consensus estimate of $225.31 million. During the same quarter in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. Equities analysts expect that Solaredge Technologies will post 2.79 earnings per share for the current year.

In other news, VP Meir Adest sold 28,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $55.48, for a total value of $1,553,440.00. Following the transaction, the vice president now owns 341,040 shares of the company’s stock, valued at approximately $18,920,899.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB lifted its stake in shares of Solaredge Technologies by 31.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 5,058 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 1,200 shares during the period. United Services Automobile Association increased its position in shares of Solaredge Technologies by 20.2% in the 2nd quarter. United Services Automobile Association now owns 8,378 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 1,408 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Solaredge Technologies by 12.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,848 shares of the semiconductor company’s stock valued at $521,000 after buying an additional 1,488 shares in the last quarter. Globeflex Capital L P increased its position in shares of Solaredge Technologies by 11.5% in the 2nd quarter. Globeflex Capital L P now owns 14,528 shares of the semiconductor company’s stock valued at $695,000 after buying an additional 1,500 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Solaredge Technologies by 16.1% in the 1st quarter. Russell Investments Group Ltd. now owns 11,709 shares of the semiconductor company’s stock valued at $616,000 after buying an additional 1,628 shares in the last quarter. 73.99% of the stock is currently owned by 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 in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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