SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Guggenheim

Guggenheim lowered shares of SolarEdge Technologies (NASDAQ:SEDGFree Report) from a neutral rating to a sell rating in a research note released on Thursday morning, MarketBeat.com reports. Guggenheim currently has $10.00 price target on the semiconductor company’s stock.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group decreased 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. Mizuho cut their price target on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, TD Cowen decreased their price objective on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Seven analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $39.35.

Read Our Latest Analysis on SolarEdge Technologies

SolarEdge Technologies Price Performance

SEDG opened at $17.31 on Thursday. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $21.73 and its 200 day moving average price is $35.65. SolarEdge Technologies has a fifty-two week low of $16.91 and a fifty-two week high of $120.74. The firm has a market cap of $991.86 million, a price-to-earnings ratio of -1.93 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last posted 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). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was down 73.2% compared to the same quarter last year. As a group, sell-side analysts expect that SolarEdge Technologies will post -8.53 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. Swedbank AB acquired a new position in shares of SolarEdge Technologies in the first quarter worth about $261,312,000. Quarry LP purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $36,627,000. Marshall Wace LLP boosted its stake in SolarEdge Technologies by 425.1% in the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after purchasing an additional 450,081 shares during the period. Quadrature Capital Ltd grew its position in SolarEdge Technologies by 1,206.8% during the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock worth $17,080,000 after purchasing an additional 222,218 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in SolarEdge Technologies by 1,634.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after purchasing an additional 202,010 shares during the period. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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