SolarEdge Technologies’ (SEDG) “Hold” Rating Reaffirmed at TD Cowen

TD Cowen restated their hold rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report report published on Monday, Marketbeat.com reports. The brokerage currently has a $16.00 target price on the semiconductor company’s stock, down from their prior target price of $35.00.

SEDG has been the topic of several other research reports. Guggenheim cut shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a report on Thursday, October 17th. DZ Bank downgraded shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price for the company. in a research note on Wednesday, July 17th. Piper Sandler cut their price target on SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Bank of America dropped their price objective on SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Barclays decreased their target price on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Seven analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $34.44.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $17.01 on Monday. The firm has a 50 day moving average of $21.73 and a two-hundred day moving average of $35.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. SolarEdge Technologies has a 52 week low of $16.45 and a 52 week high of $103.15.

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). The company had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The company’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 earnings per share. On average, equities analysts predict that SolarEdge Technologies will post -8.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in SEDG. GAMMA Investing LLC increased its position in SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares during the period. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter worth $64,000. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies in the second quarter valued at $28,000. Hexagon Capital Partners LLC lifted its holdings 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 period. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $236,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.