Glj Research Reiterates Sell Rating for SolarEdge Technologies (NASDAQ:SEDG)

Glj Research reissued their sell rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note released on Friday,Benzinga reports. Glj Research currently has a $3.90 price target on the semiconductor company’s stock.

Several other equities research analysts have also commented on SEDG. Barclays cut their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Citigroup reduced their price target on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. William Blair initiated coverage on SolarEdge Technologies in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $9.00 price target (down from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.04.

SolarEdge Technologies Trading Up 6.3 %

Shares of SolarEdge Technologies stock opened at $15.80 on Friday. The firm has a 50-day simple moving average of $16.82 and a two-hundred day simple moving average of $26.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $103.15. The company has a market cap of $915.61 million, a P/E ratio of -0.55 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. During the same period in the previous year, the company posted ($1.03) EPS. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. As a group, equities analysts predict that SolarEdge Technologies will post -19.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman More Avery purchased 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after purchasing an additional 62,942 shares during the last quarter. Quarry LP purchased a new position in SolarEdge Technologies in the second quarter valued at $36,627,000. Two Sigma Advisers LP raised its stake in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after buying an additional 3,400 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in SolarEdge Technologies by 0.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after buying an additional 2,795 shares during the last quarter. Finally, M&G PLC boosted its position in shares of SolarEdge Technologies by 4.2% during the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after acquiring an additional 38,001 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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.