SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Rating of “Hold” from Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been given an average rating of “Hold” by the thirty-three analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $49.35.

A number of equities research analysts recently weighed in on SEDG shares. DZ Bank downgraded shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a research note on Wednesday, July 17th. Jefferies Financial Group cut shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Wells Fargo & Company cut their target price on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 2nd. Canaccord Genuity Group reduced their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada dropped their price target on SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th.

SolarEdge Technologies Trading Down 0.6 %

SolarEdge Technologies stock opened at $20.13 on Monday. The stock has a market cap of $1.15 billion, a P/E ratio of -4.33 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $130.38. The firm’s fifty day moving average price is $23.02 and its 200-day moving average price is $38.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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 during 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 was down 73.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.06 earnings per share. Equities research analysts forecast that SolarEdge Technologies will post -8.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in SEDG. Swedbank AB bought a new stake in SolarEdge Technologies in the first quarter valued at $261,312,000. Vanguard Group Inc. boosted its stake in shares of SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after purchasing an additional 62,942 shares in the last quarter. Quarry LP purchased a new position in shares of SolarEdge Technologies during the second quarter valued at about $36,627,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after buying an additional 2,795 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in SolarEdge Technologies by 425.1% in the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after buying an additional 450,081 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.