Needham analyst James Ricchiuti downgraded SolarEdge Technologies (SEDG) to Hold today. The company’s shares closed last Wednesday at $78.82.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 10.3% and a 56.2% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.
Currently, the analyst consensus on SolarEdge Technologies is a Moderate Buy with an average price target of $131.50, which is a 66.0% upside from current levels. In a report issued on March 25, Barclays also initiated coverage with a Hold rating on the stock with a $99.00 price target.
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The company has a one-year high of $143.73 and a one-year low of $38.29. Currently, SolarEdge Technologies has an average volume of 1.47M.
Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SEDG in relation to earlier this year. Last month, Doron Inbar, a Director at SEDG sold 11,667 shares for a total of $1,596,629.
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SolarEdge Technologies, Inc. engages in the operation of inverter solution for the harvesting and managing of photovoltaic solar power. The company’s products include power optimizer, inverter and monitoring portal. It offers residential solutions, commercial solutions, and grid services. The company was founded by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov in 2006 and is headquartered in Hod HaSharon, Israel.
