SolarEdge Technologies (NASDAQ:SEDG) Sees Unusually-High Trading Volume

SolarEdge Technologies, Inc. (NASDAQ:SEDG) saw an uptick in trading volume on Wednesday . 3,641,545 shares were traded during trading, an increase of 37% from the previous session’s volume of 2,648,790 shares.The stock last traded at $26.04 and had previously closed at $26.40.

Analyst Ratings Changes

A number of equities analysts have issued reports on SEDG shares. Canaccord Genuity Group cut their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday. Northland Securities lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Scotiabank dropped their price target on SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating for the company in a research report on Tuesday. Mizuho reduced their price objective on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, B. Riley decreased their price objective on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.35.

SolarEdge Technologies Stock Up 1.1 %

The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $48.21 and a 200-day moving average price of $65.67.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The firm had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. Equities analysts predict that SolarEdge Technologies, Inc. will post -6.3 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its position in shares of SolarEdge Technologies by 7.7% during the third quarter. Northern Trust Corp now owns 421,918 shares of the semiconductor company’s stock worth $54,643,000 after buying an additional 30,153 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in SolarEdge Technologies by 318.0% in the third quarter. Tower Research Capital LLC TRC now owns 8,168 shares of the semiconductor company’s stock worth $1,058,000 after purchasing an additional 6,214 shares in the last quarter. California State Teachers Retirement System increased its holdings in SolarEdge Technologies by 4.6% in the third quarter. California State Teachers Retirement System now owns 75,609 shares of the semiconductor company’s stock valued at $9,792,000 after buying an additional 3,311 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in SolarEdge Technologies during the third quarter valued at approximately $3,702,000. Finally, Quadrature Capital Ltd lifted its holdings in SolarEdge Technologies by 290.4% during the 3rd quarter. Quadrature Capital Ltd now owns 28,076 shares of the semiconductor company’s stock worth $3,634,000 after buying an additional 20,885 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.