SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $55.67 and last traded at $57.3420, with a volume of 3183684 shares traded. The stock had previously closed at $50.24.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Susquehanna upped their price target on SolarEdge Technologies from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price target on SolarEdge Technologies from $42.00 to $39.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Jefferies Financial Group upgraded SolarEdge Technologies from an “underperform” rating to a “hold” rating and upped their price target for the stock from $30.00 to $49.00 in a research report on Friday, March 20th. Barclays upped their price target on SolarEdge Technologies from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company upped their price target on SolarEdge Technologies from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, sixteen have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $30.40.
Read Our Latest Research Report on SEDG
SolarEdge Technologies Trading Up 21.6%
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.20). SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The firm had revenue of $309.90 million during the quarter, compared to analysts’ expectations of $305.49 million. During the same period last year, the company earned ($1.14) earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, sell-side analysts expect that SolarEdge Technologies, Inc. will post -0.71 earnings per share for the current fiscal year.
Insider Buying and Selling at SolarEdge Technologies
In related news, Chairman More Avery sold 2,566 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $38.76, for a total transaction of $99,458.16. Following the completion of the transaction, the chairman owned 295,379 shares in the company, valued at approximately $11,448,890.04. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.
Hedge Funds Weigh In On SolarEdge Technologies
Several institutional investors have recently bought and sold shares of SEDG. Accent Capital Management LLC bought a new position in SolarEdge Technologies during the third quarter valued at $25,000. Whittier Trust Co. bought a new position in SolarEdge Technologies during the third quarter valued at $27,000. Hantz Financial Services Inc. lifted its position in SolarEdge Technologies by 352.5% during the third quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 571 shares during the last quarter. State of Wyoming bought a new position in SolarEdge Technologies during the fourth quarter valued at $27,000. Finally, Saranac Partners Ltd bought a new position in SolarEdge Technologies during the third quarter valued at $28,000. Institutional investors own 95.10% of the company’s stock.
SolarEdge Technologies Company Profile
SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.
In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.
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