Wells Fargo Keeps Their Hold Rating on SolarEdge Technologies (SEDG)
Wells Fargo analyst Michael Blum maintained a Hold rating on SolarEdge Technologies on June 26 and set a price target of $50.00. The company’s shares closed last Friday at $51.75.
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Blum covers the Energy sector, focusing on stocks such as Cheniere Energy, Targa Resources, and Excelerate Energy, Inc. Class A. According to TipRanks, Blum has an average return of 15.4% and a 70.56% success rate on recommended stocks.
Currently, the analyst consensus on SolarEdge Technologies is a Hold with an average price target of $39.79.
Based on SolarEdge Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $310.5 million and a GAAP net loss of $57.37 million. In comparison, last year the company earned a revenue of $219.48 million and had a GAAP net loss of $98.52 million
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SEDG in relation to earlier this year. Last month, More Avery, a Director at SEDG sold 2,566.00 shares for a total of $99,460.97.
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