SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up – Here’s What Happened

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Free Report) gapped up before the market opened on Monday . The stock had previously closed at $63.17, but opened at $67.44. SolarEdge Technologies shares last traded at $66.8610, with a volume of 412,158 shares changing hands.

Analyst Ratings Changes

SEDG has been the topic of a number of analyst reports. Royal Bank Of Canada lowered their price objective on SolarEdge Technologies from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group raised SolarEdge Technologies from an “underperform” rating to a “hold” rating and increased their price objective for the company from $30.00 to $49.00 in a report on Friday, March 20th. The Goldman Sachs Group reissued a “sell” rating and set a $31.00 price objective (down from $36.00) on shares of SolarEdge Technologies in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on SolarEdge Technologies from $42.00 to $39.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Barclays lifted their target price on shares of SolarEdge Technologies from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $33.25.

Get Our Latest Stock Report on SolarEdge Technologies

SolarEdge Technologies Stock Down 9.6%

The stock has a market cap of $3.52 billion, a P/E ratio of -9.43 and a beta of 1.42. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average is $51.85 and its 200 day moving average is $41.04.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.20). The firm had revenue of $309.90 million during the quarter, compared to the consensus estimate of $305.49 million. SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business earned ($1.14) EPS. As a group, equities research analysts forecast that SolarEdge Technologies, Inc. will post -1.12 EPS for the current year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery sold 2,566 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $38.76, for a total value of $99,458.16. Following the completion of the sale, the chairman owned 295,379 shares in the company, valued at approximately $11,448,890.04. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA bought a new stake in shares of SolarEdge Technologies in the first quarter valued at about $202,000. Bank of America Corp DE lifted its stake in shares of SolarEdge Technologies by 218.6% in the first quarter. Bank of America Corp DE now owns 404,297 shares of the semiconductor company’s stock valued at $20,639,000 after buying an additional 277,385 shares during the period. California State Teachers Retirement System lifted its stake in shares of SolarEdge Technologies by 25.6% in the first quarter. California State Teachers Retirement System now owns 66,589 shares of the semiconductor company’s stock valued at $3,399,000 after buying an additional 13,554 shares during the period. SummitTX Capital L.P. bought a new stake in shares of SolarEdge Technologies in the first quarter valued at about $272,000. Finally, Caxton Associates LLP bought a new stake in shares of SolarEdge Technologies in the first quarter valued at about $3,632,000. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

(Get Free Report)

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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