SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Consensus Rating of “Hold” by Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned an average recommendation of “Hold” from the thirty-one analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, twenty-four have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $77.27.

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. TD Cowen reduced their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Roth Mkm decreased their target price on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company decreased their price target on SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Finally, BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th.

SolarEdge Technologies Stock Down 5.3 %

Shares of NASDAQ SEDG opened at $24.99 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of -5.37 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The business’s fifty day moving average price is $48.85 and its 200-day moving average price is $65.95. SolarEdge Technologies has a one year low of $24.72 and a one year high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The firm had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. On average, equities research analysts anticipate that SolarEdge Technologies will post -6.3 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of SolarEdge Technologies by 3,750.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after purchasing an additional 45,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of SolarEdge Technologies by 19.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 19,050 shares of the semiconductor company’s stock worth $1,353,000 after buying an additional 3,107 shares in the last quarter. PGGM Investments boosted its holdings in shares of SolarEdge Technologies by 32.2% during the 1st quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock valued at $37,666,000 after acquiring an additional 129,142 shares in the last quarter. Swedbank AB bought a new stake in SolarEdge Technologies during the first quarter valued at $261,312,000. Finally, Tidal Investments LLC increased its stake in SolarEdge Technologies by 251.0% during the 1st quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock valued at $4,081,000 after purchasing an additional 41,116 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

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.