SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $19.00 at Citigroup

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by Citigroup from $31.00 to $19.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 9th. DZ Bank lowered SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a report on Wednesday, July 17th. Mizuho decreased their price objective on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their price objective on SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Seven analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.52.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $15.26 on Tuesday. The firm has a market capitalization of $874.10 million, a P/E ratio of -3.28 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. SolarEdge Technologies has a one year low of $14.82 and a one year high of $103.15. The business has a fifty day moving average of $21.22 and a 200 day moving average of $34.44.

SolarEdge Technologies (NASDAQ:SEDG) last announced its 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 return on equity of 18.00% and a negative net margin of 33.86%. The firm had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the business posted $2.06 earnings per share. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -8.78 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SEDG. GAMMA Investing LLC boosted its stake in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after buying an additional 289 shares during the period. Global Assets Advisory LLC purchased a new position in shares of SolarEdge Technologies during the 1st quarter worth about $5,062,000. Brookstone Capital Management bought a new position in SolarEdge Technologies during the 1st quarter valued at about $350,000. Hexagon Capital Partners LLC raised its position in SolarEdge Technologies by 120.8% in 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. Finally, Albion Financial Group UT lifted its stake in SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 955 shares during the last quarter. 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.