SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $21.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price dropped by research analysts at BMO Capital Markets from $24.00 to $21.00 in a report issued on Monday, Benzinga reports. The firm presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 15.45% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Piper Sandler dropped their target price on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. DZ Bank downgraded 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. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley decreased their target price on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.00.

SolarEdge Technologies Stock Down 3.4 %

Shares of NASDAQ SEDG opened at $18.19 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The stock has a market capitalization of $1.04 billion, a PE ratio of -2.02 and a beta of 1.56. SolarEdge Technologies has a one year low of $17.12 and a one year high of $130.38. The business’s fifty day moving average price is $22.00 and its 200-day moving average price is $36.50.

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

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted 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 worth $43,000 after purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc boosted its stake in SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 640 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies during the 1st quarter valued at about $64,000. International Assets Investment Management LLC bought a new stake in SolarEdge Technologies during the 2nd quarter valued at about $28,000. Finally, Hexagon Capital Partners LLC raised 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 worth $79,000 after buying an additional 610 shares during the last quarter. 95.10% of the stock is currently owned by 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.