SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $12.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by analysts at Roth Mkm from $20.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective would suggest a potential downside of 11.31% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. TD Cowen dropped their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday. Susquehanna reduced their price target on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup decreased their price target on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Stock Down 9.1 %

Shares of SEDG traded down $1.35 during midday trading on Thursday, reaching $13.53. The stock had a trading volume of 7,877,671 shares, compared to its average volume of 3,473,123. The company has a market cap of $775.27 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company’s fifty day simple moving average is $19.12 and its two-hundred day simple moving average is $30.89. SolarEdge Technologies has a 1-year low of $12.38 and a 1-year high of $103.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 56.32%. The firm’s quarterly revenue was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Equities research analysts expect that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in SolarEdge Technologies by 86.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 15,307 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 7,099 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after purchasing an additional 220,304 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of SolarEdge Technologies during the third quarter worth about $4,055,000. Mizuho Markets Americas LLC raised its position in shares of SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the period. 95.10% of the stock is 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.