SolarEdge Technologies (NASDAQ:SEDG) Given New $11.00 Price Target at TD Cowen

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by TD Cowen from $16.00 to $11.00 in a research note published on Thursday, MarketBeat reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other research firms have also commented on SEDG. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Citigroup reduced their target price on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Guggenheim cut SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler cut shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $17.00 to $9.00 in a research report on Thursday. Nine 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 company. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $13.53 on Thursday. The firm has a market capitalization of $775.26 million, a P/E ratio of -0.47 and a beta of 1.59. SolarEdge Technologies has a one year low of $12.38 and a one 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. The business has a fifty day moving average price of $19.12 and a 200-day moving average price of $30.71.

SolarEdge Technologies (NASDAQ:SEDG) last posted 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 158.19% and a negative return on equity of 56.32%. The company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the firm earned $2.06 EPS. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. As a group, equities research analysts forecast that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC bought a new position in shares of SolarEdge Technologies in the first quarter worth approximately $64,000. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies during the 2nd quarter valued at $28,000. KBC Group NV increased its position in shares of 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 acquiring an additional 1,378 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of SolarEdge Technologies in the first quarter valued at about $236,000. Finally, First Pacific Financial raised its stake in shares of SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,805 shares during the last quarter. 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.