Roth Mkm Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by equities research analysts at Roth Mkm from $20.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential downside of 11.31% from the company’s current price.

Several other analysts have also recently issued reports on the company. Guggenheim cut SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Thursday, October 17th. Barclays cut their price objective on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a research report on Friday, October 11th. Scotiabank reduced their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, Mizuho downgraded shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $35.00 to $11.00 in a report on Thursday. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG traded down $1.35 during mid-day trading on Thursday, reaching $13.53. The company’s stock had a trading volume of 7,877,671 shares, compared to its average volume of 3,473,123. The stock has a 50-day moving average of $19.12 and a two-hundred day moving average of $30.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The stock has a market capitalization of $775.27 million, a P/E ratio of -0.47 and a beta of 1.59. SolarEdge Technologies has a 1-year low of $12.38 and a 1-year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data 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 net margin of 158.19% and a negative return on equity of 56.32%. The business had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter in the previous year, the company posted $2.06 EPS. The firm’s revenue was down 73.2% on a year-over-year basis. On average, equities research analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SEDG. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies during the 1st quarter worth approximately $64,000. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth $28,000. KBC Group NV increased its position in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at $236,000. Finally, First Pacific Financial boosted its holdings in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,805 shares during the period. Institutional investors and hedge funds 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.