SolarEdge Technologies Inc. (NASDAQ:SEDG) shares traded -5.87% lower at $275.84 on Wall Street last session.
In accordance with the data, 27 analysts cover SolarEdge Technologies Inc. (NASDAQ:SEDG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $417.00 and a low of $245.00, we find $360.00. Given the previous closing price of $293.04, this indicates a potential upside of 22.85 percent. SEDG stock price is now 0.49% away from the 50-day moving average and -1.87% away from the 200-day moving average. The market capitalization of the company currently stands at $15.48B.
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It has been rated a hold by 7 analysts and a buy by 18. Brokers who have rated the stock have averaged $350.87 as their price target over the next twelve months.
With the price target of $325, Daiwa Securities recently initiated with Neutral rating for SolarEdge Technologies Inc. (NASDAQ: SEDG). On December 14, 2022, Barclays Upgraded its previous ‘Equal Weight’ rating to ‘Overweight’ on the stock increasing its target price from $389 to quote $396, while ‘BofA Securities’ rates the stock as ‘Buy’.
In other news, Adest Meir, Chief Product Officer sold 5,000 shares of the company’s stock on Dec 15. The stock was sold for $1,650,995 at an average price of $330.20. Upon completion of the transaction, the Chief Product Officer now directly owns 150,938 shares in the company, valued at $41.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 14, Chief Operating Officer Bechor Uri sold 8,716 shares of the business’s stock. A total of $2,963,440 was realized by selling the stock at an average price of $340.00. This leaves the insider owning 19,406 shares of the company worth $5.35 million. Insiders disposed of 152,780 shares of company stock worth roughly $42.14 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SEDG stock. A new stake in SolarEdge Technologies Inc. shares was purchased by AGF INVESTMENTS INC. during the first quarter worth $31,722,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $30,544,000 in shares of SEDG during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in SolarEdge Technologies Inc. valued at approximately $29,811,000. DSM CAPITAL PARTNERS LLC acquired a new stake in SEDG for approximately $29,137,000. SQUAREPOINT OPS LLC purchased a new stake in SEDG valued at around $22,491,000 in the second quarter. In total, there are 999 active investors with 90.30% ownership of the company’s stock.
SolarEdge Technologies Inc. (NASDAQ: SEDG) opened at $291.19 on Wednesday. During the past 12 months, SolarEdge Technologies Inc. has had a low of $190.15 and a high of $375.90. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.50, and a quick ratio of 2.70. The fifty day moving average price for SEDG is $274.50 and a two-hundred day moving average price translates $281.09 for the stock.
The latest earnings results from SolarEdge Technologies Inc. (NASDAQ: SEDG) was released for Jun, 2022. According to the Solar Company, earnings per share came in at $0.95, missing analysts’ expectations of $1.39 by -0.44. This compares to $0.96 EPS in the same period last year. The net profit margin was 4.10% and return on equity was 6.20% for SEDG. The company reported revenue of $836.72 million for the quarter, compared to $526.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 58.95 percent. For the current quarter, analysts expect SEDG to generate $822.37M in revenue.
SolarEdge Technologies Inc.(SEDG) Company Profile
SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system. It also provides residential, commercial, and large scale PV, energy storage and backup, electric vehicle charging, and home energy management solutions, as well as grid services; and e-Mobility, automation machines, lithium-ion cells and battery packs, and uninterrupted power supply solutions, as well as virtual power plants, which helps to manage the load on the grid and grid stability. In addition, the company offers pre-sales support, ongoing trainings, and technical support and after installation services. The company sells its products to the providers of solar PV systems; and solar installers and distributors, electrical equipment wholesalers, and PV module manufacturers, as well as engineering, procurement, and construction firms. SolarEdge Technologies, Inc. was founded in 2006 and is headquartered in Herzliya, Israel.
