SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $41.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by equities research analysts at Morgan Stanley from $83.00 to $41.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 62.25% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Susquehanna downgraded SolarEdge Technologies from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $56.00 in a report on Monday, May 13th. Northland Capmk cut shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday. Citigroup cut their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Scotiabank reduced their target price on shares of SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.35.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $25.27 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. SolarEdge Technologies has a 52 week low of $24.44 and a 52 week high of $288.87. The firm has a fifty day moving average of $48.21 and a two-hundred day moving average of $65.67. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -5.43 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, equities research analysts predict that SolarEdge Technologies will post -6.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Swedbank AB acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at about $261,312,000. Vanguard Group Inc. raised its holdings in shares of SolarEdge Technologies by 3.8% during the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after purchasing an additional 92,230 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of SolarEdge Technologies by 2.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock worth $71,543,000 after purchasing an additional 23,033 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after buying an additional 14,878 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of SolarEdge Technologies by 112.0% during the fourth quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock worth $52,023,000 after purchasing an additional 293,588 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.