Jefferies Financial Group Lowers SolarEdge Technologies (NASDAQ:SEDG) to Underperform

Jefferies Financial Group downgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to an underperform rating in a research note issued to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $17.00 price objective on the semiconductor company’s stock, down from their prior price objective of $27.00.

Several other research firms have also recently issued reports on SEDG. TD Cowen cut their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a buy rating for the company in a report on Thursday, August 8th. Scotiabank lowered their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a sector perform rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered their target price on shares of SolarEdge Technologies from $29.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Finally, DZ Bank lowered shares of SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 target price on the stock. in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $49.35.

SolarEdge Technologies Trading Down 3.9 %

NASDAQ SEDG opened at $20.37 on Tuesday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -4.56 and a beta of 1.56. SolarEdge Technologies has a 52-week low of $17.12 and a 52-week high of $139.41. The firm has a 50-day moving average price of $24.36 and a 200 day moving average price of $42.87. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.06 earnings per share. Equities research analysts expect that SolarEdge Technologies will post -8.67 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 289 shares during the last quarter. Versant Capital Management Inc boosted its position in SolarEdge Technologies by 1,066.7% during 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. EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $64,000. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $28,000. Finally, Hexagon Capital Partners LLC boosted its position in SolarEdge Technologies by 120.8% during the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 610 shares during the last quarter. 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.