Stocks of SolarEdge Technologies Inc. (NASDAQ:SEDG) traded higher last session on Wall Street, down -1.03% to $241.75.
According to the data, SolarEdge Technologies Inc. (NASDAQ:SEDG) has 36 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $414.00 and a low of $103.95, we find $368.00. Given the previous closing price of $244.26, this indicates a potential upside of 50.66 percent. SEDG stock price is now -12.23% away from the 50-day moving average and -15.14% away from the 200-day moving average. The market capitalization of the company currently stands at $13.58B.
A total of 8 analysts have issued a hold rating and 23 have given it a buy rating. Brokers who have rated the stock have averaged $358.20 as their price target over the next twelve months.
With the price target enhanced from $305 to $375, Deutsche Bank Upgraded its rating from Hold to Buy for SolarEdge Technologies Inc. (NASDAQ: SEDG).
In other news, Adest Meir, VP, Core Technologies sold 300 shares of the company’s stock on Jun 02. The stock was sold for $90,650 at an average price of $302.17. Upon completion of the transaction, the VP, Core Technologies now directly owns 126,624 shares in the company, valued at $30.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 01, Chief Financial Officer Faier Ronen sold 57 shares of the business’s stock. A total of $16,710 was realized by selling the stock at an average price of $293.16. This leaves the insider owning 72,539 shares of the company worth $17.54 million. Insiders disposed of 60,566 shares of company stock worth roughly $14.64 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 GREENVALE CAPITAL LLP during the first quarter worth $36,263,000. AGF INVESTMENTS INC. invested $27,801,000 in shares of SEDG during the first quarter. In the first quarter, QUADRATURE CAPITAL LTD acquired a new stake in SolarEdge Technologies Inc. valued at approximately $25,728,000. QUINTET PRIVATE BANK (EUROPE) S.A. acquired a new stake in SEDG for approximately $13,968,000. INTRINSIC EDGE CAPITAL MANAGEMENT LLC purchased a new stake in SEDG valued at around $10,874,000 in the second quarter. In total, there are 1,089 active investors with 90.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $247.66 for SolarEdge Technologies Inc. (NASDAQ: SEDG). 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 3.60, and a quick ratio of 2.60. According to the stock market information, the enterprise value for the company is $13.22B, which is based on a 70.92 price-to-earnings ratio, a 2.21 price-to-earnings-growth ratio, and a beta of 1.34. The fifty day moving average price for SEDG is $274.13 and a two-hundred day moving average price translates $285.05 for the stock.
The latest earnings results from SolarEdge Technologies Inc. (NASDAQ: SEDG) was released for Mar, 2023. According to the Solar Company, earnings per share came in at $2.9, beating analysts’ expectations of $1.93 by 0.97. This compares to $0.60 EPS in the same period last year. The net profit margin was 5.90% and return on equity was 9.30% for SEDG. The company reported revenue of $943.89 million for the quarter, compared to $655.08 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 44.09 percent. For the current quarter, analysts expect SEDG to generate $990.35M 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 in Solar and All Other segments. 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, and lithium-ion cells and batteries, as well as virtual power plants. 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 incorporated in 2006 and is headquartered in Herzliya, Israel.
