Solaredge Technologies Inc (NASDAQ:SEDG) Director More Avery sold 4,130 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $51.04, for a total transaction of $210,795.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
SEDG stock traded up $1.38 during midday trading on Friday, hitting $56.68. The company’s stock had a trading volume of 22,792 shares, compared to its average volume of 930,544. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.05. Solaredge Technologies Inc has a twelve month low of $32.42 and a twelve month high of $68.25. The firm has a market capitalization of $2.60 billion, a P/E ratio of 21.01, a PEG ratio of 0.92 and a beta of 0.26.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.14). Solaredge Technologies had a net margin of 11.23% and a return on equity of 19.57%. The business had revenue of $271.90 million during the quarter, compared to analyst estimates of $266.11 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts forecast that Solaredge Technologies Inc will post 2.6 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Slow Capital Inc. increased its stake in Solaredge Technologies by 6.8% in the 1st quarter. Slow Capital Inc. now owns 8,443 shares of the semiconductor company’s stock valued at $318,000 after buying an additional 539 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Solaredge Technologies in the 1st quarter valued at $4,030,000. Morgan Stanley increased its stake in Solaredge Technologies by 31.0% in the 1st quarter. Morgan Stanley now owns 233,132 shares of the semiconductor company’s stock valued at $8,784,000 after buying an additional 55,228 shares during the last quarter. Man Group plc acquired a new stake in Solaredge Technologies in the 1st quarter valued at $1,357,000. Finally, SEI Investments Co increased its stake in Solaredge Technologies by 6,019.0% in the 1st quarter. SEI Investments Co now owns 15,175 shares of the semiconductor company’s stock valued at $572,000 after buying an additional 14,927 shares during the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.
SEDG has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Cascend Securities upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Thursday, January 31st. Roth Capital raised their price objective on shares of Solaredge Technologies from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. ValuEngine upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $55.33.
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Solaredge Technologies 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. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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