Solaredge Technologies (NASDAQ:SEDG) Shares Gap Down to $133.00

Shares of Solaredge Technologies Inc (NASDAQ:SEDG) gapped down prior to trading on Wednesday . The stock had previously closed at $136.25, but opened at $133.00. Solaredge Technologies shares last traded at $132.41, with a volume of 2,046,195 shares.

A number of equities analysts recently issued reports on the stock. Cowen reissued a “buy” rating and issued a $118.00 price target on shares of Solaredge Technologies in a research note on Monday, December 16th. ValuEngine raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Monday, December 16th. Northland Securities downgraded shares of Solaredge Technologies from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a research note on Monday, January 27th. Canaccord Genuity reissued a “buy” rating and issued a $156.00 price target (up from $88.00) on shares of Solaredge Technologies in a research note on Thursday, February 20th. Finally, Zacks Investment Research raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $127.62.

The firm has a market cap of $6.47 billion, a PE ratio of 45.82, a PEG ratio of 1.09 and a beta of 0.06. The company has a quick ratio of 1.74, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $109.55 and its two-hundred day simple moving average is $91.29.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.54. The business had revenue of $418.22 million for the quarter, compared to analysts’ expectations of $413.80 million. Solaredge Technologies had a net margin of 10.28% and a return on equity of 20.03%. The business’s revenue was up 58.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities research analysts anticipate that Solaredge Technologies Inc will post 4.96 earnings per share for the current fiscal year.

In other news, VP Rachel Prishkolnik sold 7,833 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $92.06, for a total transaction of $721,105.98. Following the sale, the vice president now owns 49,386 shares in the company, valued at $4,546,475.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Yoav Galin sold 1,070 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $105.46, for a total transaction of $112,842.20. Following the sale, the vice president now owns 165,855 shares in the company, valued at approximately $17,491,068.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,711 shares of company stock worth $14,027,898. Corporate insiders own 7.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. Tradewinds Capital Management LLC purchased a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $27,000. Weaver Consulting Group purchased a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $34,000. Busey Wealth Management purchased a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $38,000. Vigilant Capital Management LLC purchased a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $48,000. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 78.92% 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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