SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by Jefferies Financial Group

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by Jefferies Financial Group from a “hold” rating to an “underperform” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $17.00 target price on the semiconductor company’s stock, down from their previous target price of $27.00. Jefferies Financial Group’s target price would indicate a potential downside of 21.62% from the company’s current price.

Several other analysts have also recently commented on the stock. DZ Bank cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research note on Wednesday, July 17th. Canaccord Genuity Group cut their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Roth Mkm cut their target price on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. William Blair assumed coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a report on Friday, August 9th. Five equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.23.

SolarEdge Technologies Trading Down 3.7 %

Shares of SolarEdge Technologies stock opened at $21.69 on Tuesday. SolarEdge Technologies has a 1 year low of $17.12 and a 1 year high of $141.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The company has a market capitalization of $1.24 billion, a P/E ratio of -4.66 and a beta of 1.56. The company’s fifty day moving average is $24.69 and its two-hundred day moving average is $43.17.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the business posted $2.06 EPS. The firm’s revenue was down 73.2% on a year-over-year basis. Analysts forecast that SolarEdge Technologies will post -8.67 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently bought and sold shares of SEDG. Victory Capital Management Inc. lifted its position in shares of SolarEdge Technologies by 374.4% in the fourth quarter. Victory Capital Management Inc. now owns 9,161 shares of the semiconductor company’s stock worth $857,000 after purchasing an additional 7,230 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in SolarEdge Technologies by 18.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,955 shares of the semiconductor company’s stock worth $277,000 after buying an additional 465 shares during the last quarter. Norges Bank acquired a new position in SolarEdge Technologies during the fourth quarter valued at approximately $39,547,000. PNC Financial Services Group Inc. raised its position in shares of SolarEdge Technologies by 41.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,059 shares of the semiconductor company’s stock valued at $1,410,000 after purchasing an additional 4,413 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of SolarEdge Technologies in the fourth quarter valued at approximately $222,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.