SolarEdge Technologies (NASDAQ:SEDG) Given Sell Rating at Glj Research

SolarEdge Technologies (NASDAQ:SEDG)‘s stock had its “sell” rating reiterated by stock analysts at Glj Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $3.90 price objective on the semiconductor company’s stock. Glj Research’s price target would indicate a potential downside of 75.36% from the company’s previous close.

SEDG has been the topic of a number of other reports. Roth Mkm dropped their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Barclays decreased their target price on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research report on Friday, November 15th. Citigroup reduced their target price on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $21.00 to $14.00 in a research note on Thursday, November 7th. Finally, Scotiabank dropped their price objective on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.04.

SolarEdge Technologies Price Performance

Shares of SEDG stock traded up $0.97 on Friday, hitting $15.83. 1,820,280 shares of the stock traded hands, compared to its average volume of 3,629,837. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $103.15. The firm has a 50 day simple moving average of $16.82 and a two-hundred day simple moving average of $26.51. The firm has a market cap of $917.35 million, a price-to-earnings ratio of -0.55 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The company had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s quarterly revenue was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.03) EPS. As a group, equities research analysts predict that SolarEdge Technologies will post -19.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after acquiring an additional 62,942 shares during the period. Quarry LP bought a new position in SolarEdge Technologies in the 2nd quarter valued at approximately $36,627,000. Two Sigma Advisers LP increased its holdings in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after purchasing an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after acquiring an additional 2,795 shares during the last quarter. Finally, M&G PLC grew its holdings in SolarEdge Technologies by 4.2% during the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after acquiring an additional 38,001 shares during the period. 95.10% of the stock is owned by institutional investors.

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.