Susquehanna Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by equities researchers at Susquehanna from $24.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective would suggest a potential upside of 8.52% from the stock’s current price.

SEDG has been the topic of a number of other reports. DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, July 17th. The Goldman Sachs Group dropped their price target on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Piper Sandler lowered their price objective on shares of SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $20.00 price objective on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.84.

SolarEdge Technologies Price Performance

NASDAQ:SEDG traded up $0.24 on Wednesday, hitting $18.43. The company had a trading volume of 1,041,150 shares, compared to its average volume of 3,251,326. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.05 and a beta of 1.56. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $22.00 and a two-hundred day moving average of $36.50. SolarEdge Technologies has a 52 week low of $17.12 and a 52 week high of $130.38.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (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 business had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the company posted $2.06 earnings per share. The company’s revenue was down 73.2% compared to the same quarter last year. On average, research analysts anticipate that SolarEdge Technologies will post -8.53 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 289 shares during the last quarter. Trillium Asset Management LLC raised its holdings in SolarEdge Technologies by 1.6% during the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after buying an additional 427 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. raised its holdings in SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock valued at $3,525,000 after buying an additional 585 shares during the last quarter. Finally, Swiss National Bank raised its holdings in SolarEdge Technologies by 0.5% during the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 600 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.