SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up to $261.02

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares gapped up prior to trading on Thursday . The stock had previously closed at $261.02, but opened at $270.23. SolarEdge Technologies shares last traded at $276.48, with a volume of 4,533 shares traded.

SEDG has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on SolarEdge Technologies from $338.00 to $307.00 and set an “equal weight” rating for the company in a report on Thursday. Truist Securities increased their target price on SolarEdge Technologies from $340.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, November 4th. increased their target price on SolarEdge Technologies from $280.00 to $345.00 and gave the stock a “hold” rating in a report on Monday, November 8th. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $420.00 to $448.00 and gave the stock a “buy” rating in a report on Monday, January 10th. Finally, Roth Capital increased their target price on SolarEdge Technologies from $310.00 to $395.00 and gave the stock a “buy” rating in a report on Wednesday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $355.08.

The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.08 and a current ratio of 3.83. The firm has a market capitalization of $13.33 billion, a P/E ratio of 95.43, a price-to-earnings-growth ratio of 2.49 and a beta of 1.02. The company has a 50-day moving average price of $307.93 and a 200-day moving average price of $291.50.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, November 2nd. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.03). SolarEdge Technologies had a return on equity of 12.86% and a net margin of 8.24%. The company had revenue of $526.40 million during the quarter, compared to the consensus estimate of $529.73 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities analysts predict that SolarEdge Technologies, Inc. will post 3.46 EPS for the current year.

In other news, VP Meir Adest sold 10,000 shares of the firm’s stock in a transaction on Monday, January 3rd. The stock was sold at an average price of $279.79, for a total value of $2,797,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Doron Inbar sold 3,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $352.00, for a total value of $1,056,000.00. The disclosure for this sale can be found here. Insiders sold a total of 55,305 shares of company stock worth $18,474,212 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of SEDG. BerganKDV Wealth Management LLC bought a new position in SolarEdge Technologies during the second quarter worth about $28,000. First Horizon Advisors Inc. lifted its holdings in SolarEdge Technologies by 3,047.6% during the third quarter. First Horizon Advisors Inc. now owns 661 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 640 shares in the last quarter. Dupont Capital Management Corp bought a new position in SolarEdge Technologies during the third quarter worth about $45,000. Compagnie Lombard Odier SCmA bought a new position in SolarEdge Technologies during the third quarter worth about $80,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in SolarEdge Technologies by 50.3% during the second quarter. O Shaughnessy Asset Management LLC now owns 293 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

SolarEdge Technologies Company Profile (NASDAQ:SEDG)

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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