Jefferies Financial Group Lowers SolarEdge Technologies (NASDAQ:SEDG) to Underperform

Jefferies Financial Group lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to an underperform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $17.00 target price on the semiconductor company’s stock, down from their previous target price of $27.00.

A number of other analysts have also issued reports on the company. Roth Mkm cut their target price on SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Bank of America dropped their price target on shares of SolarEdge Technologies from $31.00 to $25.00 and set a neutral rating for the company in a research note on Thursday, August 8th. TD Cowen dropped their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a buy rating for the company in a research note on Thursday, August 8th. DZ Bank downgraded shares of SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 price target for the company. in a research note on Wednesday, July 17th. 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 note on Tuesday, July 16th. Five analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $49.35.

SolarEdge Technologies Stock Down 3.9 %

Shares of NASDAQ SEDG opened at $20.37 on Tuesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -4.56 and a beta of 1.56. 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 52-week low of $17.12 and a 52-week high of $139.41. The business’s 50 day moving average is $24.36 and its two-hundred day moving average is $42.87.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The firm’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 EPS. Research analysts predict that SolarEdge Technologies will post -8.67 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SEDG. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the second quarter valued at $28,000. GAMMA Investing LLC raised its holdings in shares of SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies in the first quarter valued at about $64,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.