SolarEdge Technologies (NASDAQ:SEDG) Given Underweight Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report released on Friday morning, Marketbeat Ratings reports. They currently have a $9.00 target price on the semiconductor company’s stock, down from their prior target price of $23.00.

A number of other analysts have also weighed in on the company. TD Cowen dropped their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Bank of America lowered shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Glj Research downgraded shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Citigroup dropped their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $22.79.

SolarEdge Technologies Trading Down 17.1 %

NASDAQ:SEDG traded down $2.19 during trading hours on Friday, reaching $10.64. The company’s stock had a trading volume of 9,412,095 shares, compared to its average volume of 3,575,298. The firm has a 50-day simple moving average of $18.19 and a 200-day simple moving average of $29.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a 1 year low of $10.55 and a 1 year high of $103.15. The firm has a market capitalization of $616.59 million, a price-to-earnings ratio of -0.37 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last released 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). The company had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. During the same period last year, the firm posted ($1.03) EPS. The company’s revenue was down 64.0% on a year-over-year basis. Research analysts expect that SolarEdge Technologies will post -17.69 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies during the 1st quarter valued at about $64,000. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the second quarter worth approximately $28,000. KBC Group NV raised its stake in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of SolarEdge Technologies during the 1st quarter valued at $236,000. Finally, First Pacific Financial boosted its stake in shares of SolarEdge Technologies by 53.0% in the 2nd 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 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.