SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $21.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by research analysts at Bank of America from $22.00 to $21.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Bank of America‘s price objective suggests a potential upside of 7.91% from the stock’s current price.

A number of other equities analysts have also weighed in on SEDG. The Goldman Sachs Group cut their target price on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Scotiabank cut their price objective on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Susquehanna lowered their target price on shares of SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. TD Cowen cut their price target on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.81.

SolarEdge Technologies Stock Up 7.0 %

SEDG stock opened at $19.46 on Thursday. SolarEdge Technologies has a 1-year low of $17.12 and a 1-year high of $130.38. The stock has a market cap of $1.12 billion, a P/E ratio of -2.16 and a beta of 1.56. The stock’s fifty day simple moving average is $22.24 and its two-hundred day simple moving average is $37.64. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter last year, the business posted $2.06 EPS. The business’s quarterly revenue was down 73.2% on a year-over-year basis. Analysts expect that SolarEdge Technologies will post -8.56 EPS for the current year.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently modified their holdings of the company. Firsthand Capital Management Inc. lifted its holdings in SolarEdge Technologies by 7.7% during the fourth quarter. Firsthand Capital Management Inc. now owns 14,000 shares of the semiconductor company’s stock worth $1,217,000 after buying an additional 1,000 shares during the period. Vancity Investment Management Ltd raised its holdings in SolarEdge Technologies by 3.3% in the fourth quarter. Vancity Investment Management Ltd now owns 18,536 shares of the semiconductor company’s stock worth $1,735,000 after purchasing an additional 586 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at about $181,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of SolarEdge Technologies by 217.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 15,943 shares of the semiconductor company’s stock valued at $1,492,000 after buying an additional 10,926 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its holdings in shares of SolarEdge Technologies by 55.9% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 122,439 shares of the semiconductor company’s stock valued at $11,460,000 after buying an additional 43,890 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.