SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $20.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Roth Mkm from $23.00 to $20.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. William Blair started coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They set a “market perform” rating for the company. JPMorgan Chase & Co. lifted their price objective on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Royal Bank of Canada decreased their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group dropped 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. Seven investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $31.52.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $15.26 on Monday. SolarEdge Technologies has a fifty-two week low of $14.82 and a fifty-two week high of $103.15. The stock’s 50-day moving average is $21.22 and its two-hundred day moving average is $34.44. The firm has a market cap of $874.10 million, a P/E ratio of -3.28 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $264.31 million. During the same period in the prior year, the company posted $2.06 EPS. The business’s revenue was down 73.2% on a year-over-year basis. On average, analysts anticipate that SolarEdge Technologies will post -8.78 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently modified their holdings of SEDG. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at $28,000. GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at $64,000. Hexagon Capital Partners LLC raised its holdings in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares during the last quarter. Finally, First Pacific Financial lifted its position in SolarEdge Technologies by 53.0% during 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 in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

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.