SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by Susquehanna from $24.00 to $20.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on SEDG. TD Cowen dropped their target price on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their target price on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. Canaccord Genuity Group dropped their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America reduced their price target on shares of SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Seven analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $39.35.

SolarEdge Technologies Stock Down 3.5 %

NASDAQ SEDG opened at $17.31 on Wednesday. SolarEdge Technologies has a one year low of $16.91 and a one year high of $120.74. 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 business has a fifty day moving average price of $21.73 and a 200 day moving average price of $35.65. The company has a market cap of $991.86 million, a P/E ratio of -1.93 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the company earned $2.06 earnings per share. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies will post -8.53 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently modified their holdings of SEDG. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the second quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the 1st quarter worth $64,000. Hexagon Capital Partners LLC lifted its position in SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 610 shares during the last quarter. Finally, First Pacific Financial boosted its stake in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,805 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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.