SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) had its price objective decreased by equities research analysts at BMO Capital Markets from $21.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ target price would suggest a potential downside of 11.31% from the company’s previous close.
Several other equities analysts also recently weighed in on the company. Bank of America downgraded SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $21.00 to $14.00 in a research report on Thursday. Truist Financial reissued a “hold” rating and issued a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. Morgan Stanley cut their target price on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, TD Cowen decreased their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $23.79.
Read Our Latest Analysis on SolarEdge Technologies
SolarEdge Technologies Stock Performance
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) 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 return on equity of 56.32% and a negative net margin of 158.19%. The firm had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. During the same period in the previous year, the business earned $2.06 EPS. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. As a group, research analysts predict that SolarEdge Technologies will post -8.85 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of SEDG. International Assets Investment Management LLC acquired a new stake in shares of SolarEdge Technologies during the second quarter worth about $28,000. EntryPoint Capital LLC acquired a new position in shares of SolarEdge Technologies in the first quarter valued at approximately $64,000. KBC Group NV raised its stake in shares of SolarEdge Technologies by 95.8% during the third 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 last quarter. First Pacific Financial raised its stake in shares of 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 purchasing an additional 1,805 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. 95.10% of the stock is owned by hedge funds and other 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.
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