SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $21.00 by Analysts at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by BMO Capital Markets from $24.00 to $21.00 in a research report released on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group reduced their price objective 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. Jefferies Financial Group cut shares of SolarEdge Technologies from a hold rating to an underperform rating and reduced their price objective for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Mizuho reduced their price objective on shares of SolarEdge Technologies from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Thursday, September 19th. Scotiabank reduced their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a sector perform rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Six equities 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, the company currently has a consensus rating of Hold and a consensus price target of $41.40.

SolarEdge Technologies Stock Performance

SEDG opened at $18.83 on Monday. SolarEdge Technologies has a 12-month low of $17.12 and a 12-month high of $130.38. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -2.09 and a beta of 1.56. The company’s 50 day moving average is $22.12 and its 200 day moving average is $36.87. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same quarter in the previous year, the business posted $2.06 EPS. SolarEdge Technologies’s revenue was down 73.2% on a year-over-year basis. On average, equities research analysts predict that SolarEdge Technologies will post -8.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Albion Financial Group UT lifted its position in shares of SolarEdge Technologies by 32.2% during the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 955 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position 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 buying an additional 45,000 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of SolarEdge Technologies during the 2nd quarter valued at approximately $678,000. Handelsbanken Fonder AB lifted its position in shares of SolarEdge Technologies by 1,634.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after buying an additional 202,010 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in SolarEdge Technologies in the 2nd quarter valued at $679,000. Hedge funds and other 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.