Flagship Harbor Advisors LLC has reduced its stake in SolarEdge Technologies, Inc by 2.5%, according to the latest Securities and Exchange Commission filing. Hedge funds have also adjusted their holdings of the company, including new positions by AllSquare Wealth Management LLC, Wipfli Financial Advisors LLC, IFP Advisors Inc, Global Wealth Management Investment Advisory Inc, and Focused Wealth Management Inc. The company’s stock opened at $291.54 on Friday and has a 52-week low of $190.15 and a 52-week high of $375.90. SolarEdge Technologies has experienced insider selling and analyst upgrades and downgrades. Moreover, to receive daily news and analysts’ ratings for SolarEdge Technologies and related companies, subscribe to MarketBeat.com’s free daily email newsletter.
SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC has sold 2.5% of its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 4th quarter of 2022, as per the company’s latest disclosure with the Securities and Exchange Commission. Hedge funds have also adjusted their holdings of the company, including new positions by AllSquare Wealth Management LLC, Wipfli Financial Advisors LLC, IFP Advisors Inc, Global Wealth Management Investment Advisory Inc, and Focused Wealth Management Inc. Together, these hedge funds and institutional investors own 80.01% of SolarEdge Technologies.
The company’s stock opened at $291.54 on Friday and has a 52-week low of $190.15 and a 52-week high of $375.90. It has a market cap of $16.37 billion, a P/E ratio of 176.69, a PEG ratio of 1.33, and a beta of 1.43. Its quick ratio is 2.44, its current ratio is 3.26, and its debt-to-equity ratio is 0.31. SolarEdge Technologies last announced its quarterly earnings results on Monday, February 13th, reporting $2.86 EPS for the quarter, exceeding analysts’ estimates of $1.58 by $1.28. The company had revenue of $890.70 million during the quarter, up 61.4% compared to the same quarter last year. The semiconductor company’s net margin is 3.02%, and its return on equity is 10.04%. For the current fiscal year, SolarEdge Technologies is expected to post 7.18 EPS, as per equities research analysts.
Moreover, SolarEdge Technologies is currently experiencing insider buying and selling.
Insider Sells 5,000 Shares of SolarEdge Technologies’ Stock
Meir Adest, an insider at SolarEdge Technologies, sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 17th, at an average price of $315.96 per share. The total transaction was worth $1,579,800.00. Following the sale, Adest now owns 140,485 shares in the company, valued at $44,387,640.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, and as of now, 1.17% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on SEDG shares. Morgan Stanley and Wells Fargo & Company both raised their target prices on the stock, while Deutsche Bank Aktiengesellschaft gave the company a “hold” rating. StockNews.com started coverage on SolarEdge Technologies, giving the company a “sell” rating, while Daiwa Capital Markets assigned a “neutral” rating and a $325.00 price target. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.05.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc is a company that develops energy technology, providing inverter solutions. The firm operates through the Solar and All Other segments. The Solar segment designs, develops, manufactures, and sells an inverter solution designed to maximize power generation.
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