SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Rating of “Reduce” from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned an average rating of “Reduce” from the twenty-nine brokerages that are covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $22.79.

SEDG has been the subject of a number of analyst reports. Scotiabank decreased their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. 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 research report on Tuesday, October 22nd. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, November 7th. Susquehanna reduced their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a report on Friday.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the 2nd quarter valued at $28,000. EntryPoint Capital LLC acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at $64,000. KBC Group NV grew its holdings in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial boosted its stake in SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,805 shares during the period. Finally, US Bancorp DE raised its stake in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 2.0 %

NASDAQ:SEDG opened at $10.85 on Tuesday. The company has a market cap of $628.76 million, a price-to-earnings ratio of -0.37 and a beta of 1.59. SolarEdge Technologies has a twelve month low of $10.37 and a twelve month high of $103.15. The stock has a fifty day simple moving average of $18.05 and a 200-day simple moving average of $28.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.03) earnings per share. Analysts anticipate that SolarEdge Technologies will post -17.69 EPS for the current year.

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.