Zacks Investment Research upgraded shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $44.00 target price on the semiconductor company’s stock.
According to Zacks, “SolarEdge Technologies, Inc. provides inverter solution. The company’s SolarEdge system offers power optimizers, inverters and a cloud-based monitoring platform. It serves residential solar installations to commercial and small utility-scale solar installations. SolarEdge Technologies, Inc. is headquartered in Hod Hasharon, Israel. “
Several other research firms also recently commented on SEDG. Canaccord Genuity reiterated a buy rating and issued a $36.00 target price (up from $30.00) on shares of SolarEdge Technologies in a research report on Monday, November 6th. J P Morgan Chase & Co increased their target price on SolarEdge Technologies from $31.00 to $37.00 and gave the company an overweight rating in a research report on Wednesday, November 1st. B. Riley upgraded SolarEdge Technologies from a neutral rating to a buy rating and increased their target price for the company from $18.00 to $45.00 in a research report on Thursday, November 9th. Needham & Company LLC increased their target price on SolarEdge Technologies from $30.00 to $42.00 and gave the company a buy rating in a research report on Thursday, November 9th. Finally, Roth Capital raised their price objective on SolarEdge Technologies from $36.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $33.42.
SolarEdge Technologies (SEDG) traded down $0.20 during trading on Tuesday, reaching $37.55. The company’s stock had a trading volume of 542,339 shares, compared to its average volume of 839,733. The company has a market capitalization of $1,620.00 and a P/E ratio of 23.14. SolarEdge Technologies has a 1 year low of $12.00 and a 1 year high of $39.45.
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In related news, VP Zvi Lando sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $38.02, for a total transaction of $760,400.00. Following the completion of the sale, the vice president now owns 28,333 shares of the company’s stock, valued at $1,077,220.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.35, for a total value of $395,250.00. Following the sale, the vice president now directly owns 65,000 shares of the company’s stock, valued at approximately $1,712,750. The disclosure for this sale can be found here. Insiders have sold 112,940 shares of company stock valued at $3,511,159 in the last ninety days. 16.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC grew its stake in SolarEdge Technologies by 2.8% in the second quarter. Senvest Management LLC now owns 3,751,178 shares of the semiconductor company’s stock valued at $75,024,000 after acquiring an additional 103,000 shares during the period. Bank of New York Mellon Corp grew its stake in SolarEdge Technologies by 16.6% in the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after acquiring an additional 254,056 shares during the period. Menora Mivtachim Holdings LTD. grew its stake in SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after acquiring an additional 300,000 shares during the period. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies in the second quarter valued at approximately $20,180,000. Finally, Janus Henderson Group PLC grew its stake in SolarEdge Technologies by 435.7% in the second quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after acquiring an additional 770,166 shares during the period. 60.00% of the stock is owned by institutional investors and hedge funds.
About SolarEdge Technologies
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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