TD Cowen Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $11.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by TD Cowen from $16.00 to $11.00 in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has a hold rating on the semiconductor company’s stock.

A number of other analysts have also commented on SEDG. BMO Capital Markets decreased their target price on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Citigroup decreased their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Canaccord Genuity Group cut their target price on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a research note on Wednesday, July 17th. Finally, Barclays dropped their price objective on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $13.53 on Thursday. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a twelve month low of $12.38 and a twelve month high of $103.15. The company has a fifty day moving average of $19.12 and a 200-day moving average of $30.71. The firm has a market capitalization of $775.26 million, a P/E ratio of -0.47 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted 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). The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 56.32%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same period last year, the firm posted $2.06 earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the second quarter valued at about $28,000. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter valued at approximately $64,000. KBC Group NV lifted its stake in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. First Pacific Financial increased its position in 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 buying an additional 1,805 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of 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 buying an additional 4,834 shares during the period. Hedge funds and other institutional investors 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.