SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $35.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Royal Bank of Canada from $37.00 to $35.00 in a research report released on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the semiconductor company’s stock.

SEDG has been the subject of several other reports. Morgan Stanley dropped their target price on shares of SolarEdge Technologies from $83.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, June 26th. Canaccord Genuity Group dropped their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a hold rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SolarEdge Technologies from $75.00 to $55.00 and set a hold rating for the company in a research report on Friday, May 10th. Bank of America dropped their target price on shares of SolarEdge Technologies from $31.00 to $25.00 and set a neutral rating for the company in a research report on Thursday. Finally, Piper Sandler dropped their target price on shares of SolarEdge Technologies from $29.00 to $25.00 and set a neutral rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $52.92.

SolarEdge Technologies Price Performance

Shares of SEDG stock traded down $1.67 during trading hours on Thursday, reaching $21.20. The stock had a trading volume of 5,008,179 shares, compared to its average volume of 4,727,371. The stock’s fifty day simple moving average is $31.29 and its 200 day simple moving average is $52.97. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 12 month low of $19.81 and a 12 month high of $186.79. The firm has a market capitalization of $1.21 billion, a PE ratio of -4.56 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). 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 during the quarter, compared to the consensus estimate of $194.82 million. On average, equities research analysts predict that SolarEdge Technologies will post -7.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SEDG. Arizona State Retirement System raised its holdings in SolarEdge Technologies by 2.9% in the 4th quarter. Arizona State Retirement System now owns 15,811 shares of the semiconductor company’s stock worth $1,480,000 after purchasing an additional 440 shares in the last quarter. International Assets Investment Management LLC raised its holdings in SolarEdge Technologies by 20,293.3% in the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after purchasing an additional 103,293 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of SolarEdge Technologies by 20.9% in the 4th quarter. New York State Teachers Retirement System now owns 66,836 shares of the semiconductor company’s stock worth $6,256,000 after acquiring an additional 11,555 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of SolarEdge Technologies by 59.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,493 shares of the semiconductor company’s stock worth $140,000 after acquiring an additional 557 shares in the last quarter. Finally, Liberty One Investment Management LLC increased its stake in shares of SolarEdge Technologies by 4.2% in the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after acquiring an additional 148 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.