Solaredge Technologies Inc (NASDAQ:SEDG) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $89.81 and last traded at $89.62, with a volume of 139091 shares. The stock had previously closed at $83.04.
A number of research firms have recently issued reports on SEDG. Roth Capital raised their target price on shares of Solaredge Technologies from $70.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Goldman Sachs Group upgraded shares of Solaredge Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $52.00 in a research note on Monday, June 17th. Oppenheimer raised their target price on shares of Solaredge Technologies from $66.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Canaccord Genuity raised their target price on shares of Solaredge Technologies from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $75.86.
The company has a current ratio of 2.49, a quick ratio of 1.98 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $78.65 and its two-hundred day simple moving average is $57.63. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.21 and a beta of 0.06.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $315.53 million. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s revenue was up 43.1% on a year-over-year basis. As a group, equities research analysts anticipate that Solaredge Technologies Inc will post 2.99 earnings per share for the current fiscal year.
In other Solaredge Technologies news, CEO Zvi Lando sold 28,604 shares of Solaredge Technologies stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.93, for a total value of $2,343,525.72. Following the completion of the sale, the chief executive officer now owns 84,375 shares in the company, valued at approximately $6,912,843.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director More Avery sold 2,000 shares of Solaredge Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $82.06, for a total transaction of $164,120.00. Following the completion of the sale, the director now owns 587,573 shares of the company’s stock, valued at approximately $48,216,240.38. The disclosure for this sale can be found here. Insiders sold a total of 241,599 shares of company stock valued at $20,141,696 in the last quarter. Corporate insiders own 7.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Pathstone Family Office LLC acquired a new position in shares of Solaredge Technologies in the 2nd quarter valued at approximately $31,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Solaredge Technologies in the 2nd quarter valued at approximately $32,000. Westside Investment Management Inc. acquired a new position in shares of Solaredge Technologies in the 2nd quarter valued at approximately $35,000. Tower Research Capital LLC TRC acquired a new position in shares of Solaredge Technologies in the 2nd quarter valued at approximately $69,000. Finally, NumerixS Investment Technologies Inc raised its position in shares of Solaredge Technologies by 44.4% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.
Solaredge Technologies Company Profile (NASDAQ:SEDG)
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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