SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $25.00 by Analysts at Deutsche Bank Aktiengesellschaft

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by equities researchers at Deutsche Bank Aktiengesellschaft from $40.00 to $25.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 19.27% from the stock’s current price.

Several other equities analysts have also weighed in on SEDG. BMO Capital Markets reduced their target price on shares of SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. B. Riley reduced their price objective on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Piper Sandler lowered their target price on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays raised their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Finally, TD Cowen decreased their price target on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.92.

SolarEdge Technologies Trading Down 8.4 %

Shares of SEDG stock traded down $1.91 on Friday, reaching $20.96. 3,175,521 shares of the stock were exchanged, compared to its average volume of 3,196,063. SolarEdge Technologies has a 1-year low of $19.81 and a 1-year high of $186.79. The stock has a market cap of $1.20 billion, a P/E ratio of -4.53 and a beta of 1.52. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $31.84 and a two-hundred day moving average of $53.32.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS 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 during the quarter, compared to analysts’ expectations of $194.82 million. On average, research analysts anticipate that SolarEdge Technologies will post -6.76 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB acquired a new position in shares of SolarEdge Technologies during the first quarter worth approximately $261,312,000. Vanguard Group Inc. raised 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 worth $166,618,000 after buying an additional 62,942 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of SolarEdge Technologies by 0.3% in the 2nd 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 period. Franklin Resources Inc. boosted its holdings in shares of SolarEdge Technologies by 112.0% in the fourth quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after acquiring an additional 293,588 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of SolarEdge Technologies by 2.0% during the first quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock valued at $38,980,000 after acquiring an additional 10,866 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

About SolarEdge Technologies

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.