SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) to a sell rating in a research note published on Friday morning.

A number of other equities research analysts have also recently issued reports on SEDG. Citigroup reduced their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. TD Cowen decreased their target price on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday. Piper Sandler cut shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $9.00 in a report on Thursday. Guggenheim cut SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target for the company. in a research note on Thursday, October 17th. Finally, DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research report on Wednesday, July 17th. Nine research analysts have rated the stock with a sell rating, nineteen have assigned 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.

SolarEdge Technologies Stock Performance

SEDG stock traded down $1.35 during mid-day trading on Friday, hitting $13.53. 7,877,671 shares of the company were exchanged, compared to its average volume of 3,473,123. SolarEdge Technologies has a 1-year low of $12.38 and a 1-year high of $103.15. The stock has a market capitalization of $775.27 million, a PE ratio of -0.47 and a beta of 1.59. The business has a 50 day simple moving average of $19.12 and a 200-day simple moving average of $30.89. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate 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 posted $2.06 earnings per share. The business’s revenue for the quarter was down 73.2% on a year-over-year basis. On average, equities analysts forecast that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies in the second quarter worth $28,000. EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies in the 1st quarter valued at about $64,000. KBC Group NV raised its position 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 acquiring an additional 1,378 shares during the last quarter. First Pacific Financial lifted its stake in shares of SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 1,805 shares during the period. Finally, US Bancorp DE boosted its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.