SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $21.00 at Bank of America

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by Bank of America from $22.00 to $21.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other brokerages have also recently commented on SEDG. Morgan Stanley decreased their target price on shares of 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. Glj Research lowered shares of SolarEdge Technologies from a strong-buy rating to a strong sell rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their price objective on shares of SolarEdge Technologies from $37.00 to $35.00 and set a sector perform rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Finally, William Blair initiated coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They issued a market perform rating for the company. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $42.80.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $19.46 on Thursday. 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 company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.16 and a beta of 1.56. SolarEdge Technologies has a 12 month low of $17.12 and a 12 month high of $130.38. The business’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $37.24.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data 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 18.00% and a negative net margin of 33.86%. The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same quarter last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was down 73.2% on a year-over-year basis. Sell-side analysts forecast that SolarEdge Technologies will post -8.53 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in SolarEdge Technologies in the second quarter valued at approximately $28,000. GAMMA Investing LLC grew 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 period. Versant Capital Management Inc increased its holdings in SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 640 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies in the first quarter worth approximately $64,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 610 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.