SolarEdge Technologies (NASDAQ:SEDG) Receives Underweight Rating from Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG)‘s stock had its “underweight” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Friday, MarketBeat Ratings reports. They currently have a $9.00 price target on the semiconductor company’s stock, down from their prior price target of $23.00. Morgan Stanley’s price objective points to a potential downside of 15.41% from the company’s current price.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group lowered their target price on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Finally, Truist Financial cut their price objective on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Ten equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.79.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $10.64 on Friday. The firm has a market capitalization of $616.59 million, a PE ratio of -0.37 and a beta of 1.59. The company has a 50 day moving average price of $18.19 and a 200-day moving average price of $29.11. SolarEdge Technologies has a 52 week low of $10.55 and a 52 week high of $103.15. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same period last year, the firm posted ($1.03) EPS. As a group, equities research analysts expect that SolarEdge Technologies will post -17.69 earnings per share for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in SolarEdge Technologies during the second quarter valued at $28,000. EntryPoint Capital LLC bought a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $64,000. KBC Group NV grew its position in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares in the last quarter. First Pacific Financial increased its stake in SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 1,805 shares during the last quarter. Finally, US Bancorp DE raised its position in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.