SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $46.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by investment analysts at Scotiabank from $72.00 to $46.00 in a research note issued on Tuesday, Marketbeat.com reports. The firm presently has a “sector perform” rating on the semiconductor company’s stock. Scotiabank’s price objective points to a potential upside of 84.07% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. DZ Bank initiated coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective for the company. Northland Capmk cut shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th. Citigroup dropped their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Janney Montgomery Scott cut shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Four research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $77.27.

SolarEdge Technologies Stock Down 5.3 %

SEDG stock opened at $24.99 on Tuesday. The stock has a market capitalization of $1.43 billion, a P/E ratio of -5.37 and a beta of 1.62. The firm has a 50-day simple moving average of $48.85 and a 200-day simple moving average of $65.95. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 52 week low of $24.72 and a 52 week high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. Equities analysts forecast that SolarEdge Technologies will post -6.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 194.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of SolarEdge Technologies in the 4th quarter valued at $30,000. Compagnie Lombard Odier SCmA grew its position in shares of SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 500 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 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.