SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $17.00 by Analysts at Barclays

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by Barclays from $26.00 to $17.00 in a research note published on Friday, Benzinga reports. They currently have an underweight rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on SEDG. Canaccord Genuity Group reduced their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a hold rating for the company in a report on Tuesday, June 25th. Roth Mkm cut their price target on SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reduced their target price on shares of SolarEdge Technologies from $37.00 to $35.00 and set a sector perform rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of Hold and a consensus target price of $46.81.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG opened at $19.46 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm has a market cap of $1.12 billion, a PE ratio of -2.16 and a beta of 1.56. The firm’s 50 day simple moving average is $22.24 and its 200-day simple moving average is $37.64. SolarEdge Technologies has a one year low of $17.12 and a one year high of $130.38.

SolarEdge Technologies (NASDAQ:SEDG) last issued its 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). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period last year, the firm earned $2.06 earnings per share. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. As a group, equities analysts predict that SolarEdge Technologies will post -8.56 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 640 shares in the last quarter. EntryPoint Capital LLC acquired a new position in SolarEdge Technologies in the 1st quarter worth about $64,000. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies during the second quarter worth approximately $28,000. Finally, Hexagon Capital Partners LLC grew its holdings in SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 610 shares during the period. 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.