TD Cowen Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by TD Cowen from $16.00 to $11.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a hold rating on the semiconductor company’s stock.

Several other analysts have also recently commented on SEDG. Guggenheim cut shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a research note on Thursday, October 17th. Citigroup reduced their price objective on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Mizuho dropped their target price on shares of SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. BMO Capital Markets dropped their target price on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Finally, Roth Mkm dropped their target price on shares of SolarEdge Technologies from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, October 21st. Nine investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus target price of $24.04.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded down $1.37 during trading hours on Thursday, reaching $13.51. 3,211,001 shares of the company’s stock were exchanged, compared to its average volume of 3,451,645. The firm has a market capitalization of $774.12 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company has a 50-day moving average of $19.34 and a 200 day moving average of $31.18. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a 1-year low of $12.38 and a 1-year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 56.32% and a negative net margin of 158.19%. The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. During the same quarter in the prior year, the company earned $2.06 EPS. The firm’s revenue for the quarter was down 73.2% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies in the second quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the 1st quarter worth about $64,000. KBC Group NV raised its holdings in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares during the period. First Pacific Financial raised its holdings in SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,805 shares during the period. Finally, US Bancorp DE raised its holdings in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after buying an additional 4,834 shares during the period. 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.