SolarEdge Technologies (NASDAQ:SEDG) Upgraded at StockNews.com

StockNews.com upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) to a sell rating in a report published on Friday.

A number of other analysts have also weighed in on the stock. BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Canaccord Genuity Group reduced 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 shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $17.00 to $9.00 in a research report on Thursday, November 7th. Finally, Susquehanna reduced their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Stock Up 1.1 %

Shares of NASDAQ:SEDG opened at $13.68 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.45 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a 12 month low of $12.38 and a 12 month high of $103.15. The company has a 50-day moving average price of $18.91 and a 200 day moving average price of $30.22. The company has a market cap of $783.86 million, a price-to-earnings ratio of -0.47 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same period last year, the company earned ($1.03) earnings per share. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. As a group, equities research analysts predict that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the second quarter valued at $28,000. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter valued at $64,000. KBC Group NV increased its holdings in SolarEdge Technologies by 95.8% in 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 in the last quarter. First Pacific Financial increased its holdings in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares in the last quarter. Finally, US Bancorp DE increased its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,834 shares in the last quarter. Hedge funds and other institutional investors 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.