SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up – Time to Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares gapped up prior to trading on Monday . The stock had previously closed at $11.88, but opened at $12.57. SolarEdge Technologies shares last traded at $13.18, with a volume of 418,497 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SEDG. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Glj Research cut shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Susquehanna cut their price objective on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.79.

SolarEdge Technologies Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market capitalization of $806.66 million, a P/E ratio of -0.45 and a beta of 1.59. The business has a fifty day moving average of $17.42 and a 200-day moving average of $27.20.

SolarEdge Technologies (NASDAQ:SEDG) last announced its 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 company 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 quarterly revenue was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.03) EPS. On average, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman More Avery purchased 156,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System acquired a new stake in shares of SolarEdge Technologies during the first quarter worth approximately $236,000. Vanguard Group Inc. boosted its stake in shares of SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after buying an additional 62,942 shares during the period. EntryPoint Capital LLC purchased a new position in shares of SolarEdge Technologies during the 1st quarter valued at $64,000. California State Teachers Retirement System increased its stake in shares of SolarEdge Technologies by 1.6% in the first quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company’s stock worth $3,672,000 after acquiring an additional 827 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of SolarEdge Technologies by 251.0% during the first quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock worth $4,081,000 after acquiring an additional 41,116 shares in the last quarter. Hedge funds and other 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.