BidaskClub Lowers SolarEdge Technologies (SEDG) to Buy
BidaskClub lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a strong-buy rating to a buy rating in a research report report published on Saturday.
Several other analysts also recently commented on the company. Deutsche Bank downgraded SolarEdge Technologies from a buy rating to a hold rating and set a $40.00 target price for the company. in a research note on Monday, November 27th. Zacks Investment Research upgraded SolarEdge Technologies from a hold rating to a strong-buy rating and set a $44.00 target price for the company in a research note on Tuesday, November 14th. Roth Capital raised their target price on SolarEdge Technologies from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, November 9th. J P Morgan Chase & Co raised their target price on SolarEdge Technologies to $43.00 and gave the company an overweight rating in a research note on Thursday, November 9th. Finally, Needham & Company LLC raised their target price on SolarEdge Technologies from $30.00 to $42.00 and gave the company a buy rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $34.19.
Shares of SolarEdge Technologies (NASDAQ SEDG) opened at $33.55 on Friday. The company has a market capitalization of $1,496.85, a PE ratio of 21.09, a PEG ratio of 0.76 and a beta of 0.17. SolarEdge Technologies has a 12 month low of $12.15 and a 12 month high of $39.90.
In other SolarEdge Technologies news, VP Zvi Lando sold 20,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $38.02, for a total transaction of $760,400.00. Following the transaction, the vice president now owns 28,333 shares of the company’s stock, valued at approximately $1,077,220.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Yoav Galin sold 6,700 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $34.07, for a total transaction of $228,269.00. Following the transaction, the vice president now directly owns 25,000 shares in the company, valued at approximately $851,750. The disclosure for this sale can be found here. Insiders have sold a total of 112,940 shares of company stock valued at $3,511,159 in the last quarter. Company insiders own 16.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Sei Investments Co. lifted its position in shares of SolarEdge Technologies by 380.4% during the 2nd quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after buying an additional 4,755 shares in the last quarter. American International Group Inc. bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth approximately $123,000. Pinebridge Investments L.P. bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth approximately $125,000. Globeflex Capital L P bought a new stake in shares of SolarEdge Technologies in the 2nd quarter worth approximately $157,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth approximately $220,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
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About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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