SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $17.00 at Barclays

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by Barclays from $26.00 to $17.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the semiconductor company’s stock.

SEDG has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. William Blair began coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They set a market perform rating for the company. Morgan Stanley cut their price target on SolarEdge Technologies from $28.00 to $23.00 and set an equal weight rating for the company in a research note on Tuesday. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a hold rating to an underperform rating and dropped their price objective for the stock from $27.00 to $17.00 in a report on Tuesday, September 17th. Finally, Truist Financial reaffirmed a hold rating and set a $20.00 target price on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of Hold and an average price target of $46.81.

SolarEdge Technologies Stock Up 7.0 %

NASDAQ:SEDG opened at $19.46 on Friday. The firm has a 50-day simple moving average of $22.24 and a two-hundred day simple moving average of $37.64. The firm has a market cap of $1.12 billion, a P/E ratio of -2.16 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $130.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the prior year, the business posted $2.06 earnings per share. The business’s revenue for the quarter was down 73.2% on a year-over-year basis. Analysts predict that SolarEdge Technologies will post -8.56 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies in the 2nd quarter worth about $28,000. GAMMA Investing LLC lifted its stake in SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of SolarEdge Technologies by 1,066.7% during 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 period. EntryPoint Capital LLC bought a new position in shares of SolarEdge Technologies during the first quarter valued at approximately $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 worth $79,000 after buying an additional 610 shares during the period. 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.