SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Neutral at Bank of America

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm currently has a $29.00 price target on the semiconductor company’s stock. Bank of America‘s price target points to a potential upside of 7.93% from the company’s previous close.

Several other research firms have also issued reports on SEDG. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 2nd. B. Riley decreased their price target on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Morgan Stanley cut their price objective on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 26th. Mizuho decreased their target price on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Canaccord Genuity Group dropped their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and an average target price of $73.19.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $26.87 on Monday. SolarEdge Technologies has a one year low of $23.51 and a one year high of $288.87. The business’s 50-day moving average price is $43.11 and its two-hundred day moving average price is $61.58. 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 company has a market capitalization of $1.54 billion, a P/E ratio of -5.78 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Analysts anticipate that SolarEdge Technologies will post -6.52 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in SEDG. Manchester Capital Management LLC grew its position in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. GAMMA Investing LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $30,000. Compagnie Lombard Odier SCmA increased its position in shares of SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. Versant Capital Management Inc lifted its holdings in SolarEdge Technologies by 1,066.7% during 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 during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in SolarEdge Technologies in the first quarter valued at about $64,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.