SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $25.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target trimmed by Piper Sandler from $53.00 to $25.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on SEDG. Scotiabank lowered their price target on SolarEdge Technologies from $72.00 to $46.00 and set a sector perform rating for the company in a report on Tuesday, June 25th. BMO Capital Markets lowered their target price on SolarEdge Technologies from $73.00 to $56.00 and set a market perform rating for the company in a research note on Thursday, May 9th. Citigroup cut their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a neutral rating on the stock in a research note on Thursday, May 9th. Bank of America lowered their price objective on shares of SolarEdge Technologies from $54.00 to $44.00 and set an underperform rating for the company in a research report on Friday, May 10th. Finally, DZ Bank initiated coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a hold rating and a $62.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies presently has an average rating of Hold and a consensus target price of $76.35.

SolarEdge Technologies Stock Down 0.0 %

SolarEdge Technologies stock opened at $25.26 on Wednesday. SolarEdge Technologies has a fifty-two week low of $24.44 and a fifty-two week high of $288.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -5.43 and a beta of 1.62. The company’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $65.21.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -6.49 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently added to or reduced their stakes in SEDG. Manchester Capital Management LLC boosted its holdings 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 purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC acquired a new stake in SolarEdge Technologies in the fourth quarter valued at about $30,000. Compagnie Lombard Odier SCmA raised its stake in SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 640 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies in the 1st quarter valued at approximately $64,000. Institutional investors and hedge funds 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.