SolarEdge Technologies Inc. (NASDAQ:SEDG)‘s stock had its “buy” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Friday.
SEDG has been the subject of several other research reports. Barclays PLC lowered shares of SolarEdge Technologies to a “buy” rating in a research note on Monday, June 20th. Deutsche Bank AG reduced their price objective on shares of SolarEdge Technologies from $27.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $27.00 price objective on shares of SolarEdge Technologies in a research note on Friday. FBR & Co reduced their price objective on shares of SolarEdge Technologies from $38.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. set a $31.00 price objective on shares of SolarEdge Technologies and gave the company a “buy” rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $26.27.
SolarEdge Technologies (NASDAQ:SEDG) opened at 15.94 on Friday. The company has a 50-day moving average price of $16.96 and a 200-day moving average price of $20.75. The firm has a market capitalization of $651.91 million, a P/E ratio of 9.21 and a beta of -0.44. SolarEdge Technologies has a 1-year low of $14.41 and a 1-year high of $30.50.
SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. SolarEdge Technologies had a net margin of 15.64% and a return on equity of 31.51%. The business earned $124.80 million during the quarter, compared to analyst estimates of $129.63 million. During the same quarter in the previous year, the business earned $0.31 EPS. SolarEdge Technologies’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, equities research analysts predict that SolarEdge Technologies will post $1.89 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of SEDG. IFP Advisors Inc boosted its stake in SolarEdge Technologies by 45.4% in the first quarter. IFP Advisors Inc now owns 5,396 shares of the company’s stock worth $136,000 after buying an additional 1,686 shares during the last quarter. Guinness Asset Management Ltd boosted its stake in SolarEdge Technologies by 42.1% in the second quarter. Guinness Asset Management Ltd now owns 8,100 shares of the company’s stock worth $159,000 after buying an additional 2,400 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in SolarEdge Technologies by 26.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,815 shares of the company’s stock worth $171,000 after buying an additional 1,415 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in SolarEdge Technologies during the second quarter worth $196,000. Finally, Raymond James & Associates acquired a new stake in SolarEdge Technologies during the second quarter worth $207,000. Institutional investors own 60.46% of the company’s stock.
About SolarEdge Technologies
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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