SolarEdge Technologies: A Moderate Buy with Bright Prospects
According to Bloomberg.com, SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been experiencing a growing market interest amongst the investing community. With twenty-three brokerage firms covering the innovative energy technology company, and with a majority of them recommending a “Moderate Buy” rating, SolarEdge has received positive attention from investors worldwide.
Out of the twenty-three firms covering SolarEdge, only one firm recommended that investors sell their existing SEDG holdings. Five of these investment outfits had issued a hold recommendation while ten had proposed buying the stocks. The average 1-year price target amongst brokers who have covered the stock in the last year is $374.26, giving SolarEdge plenty of room for growth potential.
In its recent earnings report posted on Wednesday, May 3rd, SolarEdge Technologies beat its consensus estimate by almost a dollar with $2.36 earnings per share for Q1 earnings. The report is significant not only because it exceeded predictions but also because it shows that the company held strong results even amidst COVID-related industry-wide disruptions.
The Semiconductor Company reported revenue growth worth $943.89 million during the Q1 period compared to analysts’ estimated revenue of $929.37 million for consolation periods. Indeed, Equities research analysts remain bullish on Solar Edge Technologies‘ prospects as they continue to anticipate that SEDG will post an EPS of 8.56 for this fiscal year.
Founded in 2006 and headquartered in Herzliya, Israel, Solar Edge Technologies Inc specializes in developing energy technology designed to maximize power generation through their inverters’ innovative solutions’ design development manufacturing and sales—the main segmentations between all their operations are solar power and other services provided by them.
The demand for eco-friendly technologies like those produced by Sedg continues to grow at an enormous rate due to increasing concerns related to climate change and sustainability issues worldwide.
Thus investors can expect SolarEdge Technologies to be a potent force for creating eco-friendly pathways, a trend that is seeing the global community progressively shifting towards greener alternatives. As SEDG continues to deliver innovative energy technology solutions to its clients globally, its long-term growth prospects remain strong. It may be worth following this conversation in case of any exciting developments in the future.
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Financial Institutions Continue to Favor SolarEdge Technologies as the Company Proves its Resilience Amidst Pandemic Challenges
SolarEdge Technologies, Inc. is a skilled and innovative leader in the energy technology sector. The company is involved in developing high-quality energy inverter solutions that are designed to aid organizations to maximize power generation and reduce costs. Recently, SolarEdge Technologies has been the subject of several research reports from multiple financial institutions including Bank of America, Barclays, Truist Financial, B. Riley, and HSBC.
On the 19th of April 2021, Bank of America raised their price target on shares of SolarEdge Technologies from $393.00 to $407.00 and granted the stock a “buy” rating. On the 24th of May 2021, Barclays lowered their target price on shares of SolarEdge Technologies from $392.00 to $390.00 while Truist Financial boosted their target price from $370.00 to $380.00 on the 5th of May 2021.
B.Riley reduced its price target on shares of SolarEdge Technologies from $370.00 to $368.00 in a report issued on April 25th, 2021, whereas HSBC initiated coverage on shares of SolarEdge Technologies with a “buy” rating and assigned it a price target of $418.
Shares for NASDAQ SEDG began trading at an opening price of $285.42 as of August 3rd, 2021. The firm also has a quick ratio of 2.63 along with its current ratio standing at 3:60 with a debt-to-equity ratio at only .28%. Its recent market capitalization value sits at approximately USD16:08 billion creating an optimistic look for those who want to make an investment.
In terms of institutional investors holding stakes in these particular types of companies; Trust Co.Vermont has increased its stake by purchasing additional35 shares for this stock during Q4 (Q4 represents which quarter). Companies such as Captrust Financial Advisors raised its position in SolarEdge Technologies by 3.5%, owning 1,162 shares worth $329,000. The Sentry Investment Management LLC and Sumitomo Mitsui DS Asset Management Company Ltd also raised their positions by acquiring additional 40 and 41 stocks, respectively. DAVENPORT & Co LLC joined the shareholders displaying confidence in the stock, increasing their position by 0.7 %.
SolarEdge Technologies Inc., along with its proven track record of developments aimed at raising efficiency levels and decreasing costs in public businesses, is rated highly amongst institutional investors who currently hold an estimated80.01% of the company’s stock. Furthermore, this company has remained resilient even during testing times to stay competitive despite a major pandemic that crept its way to businesses around the globe with much volatility and criticality, showing good promise for the future as well