SolarEdge Technologies (NASDAQ:SEDG) Earns “Underweight” Rating from Morgan Stanley

Morgan Stanley restated their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report published on Friday, Marketbeat.com reports. Morgan Stanley currently has a $9.00 target price on the semiconductor company’s stock, down from their previous target price of $23.00.

Several other brokerages also recently commented on SEDG. Citigroup dropped their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Susquehanna dropped their price objective on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. UBS Group decreased their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Barclays dropped their price target on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research report on Friday, October 11th. Finally, Roth Mkm cut their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and an average price target of $22.79.

SolarEdge Technologies Trading Up 2.0 %

SolarEdge Technologies stock opened at $10.85 on Friday. SolarEdge Technologies has a 52 week low of $10.37 and a 52 week high of $103.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market capitalization of $628.76 million, a price-to-earnings ratio of -0.37 and a beta of 1.59. The company has a 50 day moving average price of $18.05 and a 200 day moving average price of $28.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. During the same quarter in the prior year, the company earned ($1.03) EPS. SolarEdge Technologies’s revenue for the quarter was down 64.0% on a year-over-year basis. Research analysts forecast that SolarEdge Technologies will post -17.69 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SEDG. Mizuho Markets Americas LLC raised its stake in SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after buying an additional 163,340 shares in the last quarter. Meitav Investment House Ltd. lifted its stake in shares of SolarEdge Technologies by 9.6% in the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares during the period. AMG National Trust Bank bought a new stake in shares of SolarEdge Technologies during the third quarter valued at approximately $4,055,000. DekaBank Deutsche Girozentrale purchased a new stake in SolarEdge Technologies in the third quarter worth $1,495,000. Finally, E. Ohman J or Asset Management AB raised its holdings in SolarEdge Technologies by 109.3% in the third quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock worth $8,559,000 after purchasing an additional 195,085 shares in the last quarter. Hedge funds and other institutional investors 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.