SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Meir Adest sold 3,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the completion of the transaction, the vice president now directly owns 332,624 shares in the company, valued at approximately $6,652,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded up 3.11% during mid-day trading on Monday, hitting $21.55. The company had a trading volume of 695,122 shares. SolarEdge Technologies, Inc. has a 1-year low of $11.35 and a 1-year high of $21.85. The stock has a market capitalization of $895.49 million, a PE ratio of 21.42 and a beta of -0.03. The stock has a 50 day moving average price of $19.03 and a 200-day moving average price of $15.51.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. SolarEdge Technologies had a net margin of 11.85% and a return on equity of 21.03%. The firm had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $114.10 million. During the same quarter in the prior year, the company earned $0.51 EPS. The company’s revenue was down 8.1% compared to the same quarter last year. On average, analysts forecast that SolarEdge Technologies, Inc. will post $1.42 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $138,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of SolarEdge Technologies during the first quarter valued at $173,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SolarEdge Technologies during the first quarter valued at $178,000. CAPROCK Group Inc. acquired a new stake in shares of SolarEdge Technologies during the first quarter valued at $196,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of SolarEdge Technologies during the first quarter valued at $206,000. 55.61% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on SEDG shares. Vetr raised SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 target price on the stock in a research note on Tuesday, April 11th. Axiom Securities reissued a “sell” rating on shares of SolarEdge Technologies in a research note on Friday, June 9th. Deutsche Bank AG set a $25.00 target price on SolarEdge Technologies and gave the company a “buy” rating in a research note on Wednesday, June 14th. Cowen and Company set a $21.00 target price on SolarEdge Technologies and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Finally, ValuEngine cut SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.89.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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