SolarEdge Technologies (NASDAQ:SEDG) Upgraded at StockNews.com

StockNews.com upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) to a sell rating in a research report report published on Friday morning.

A number of other brokerages have also recently issued reports on SEDG. Glj Research cut shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Guggenheim downgraded SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 17th. Bank of America downgraded SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Canaccord Genuity Group decreased their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $13.68 on Friday. The firm has a market capitalization of $783.86 million, a P/E ratio of -0.47 and a beta of 1.59. The company has a quick ratio of 2.45, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $18.91 and its two-hundred day simple moving average is $30.22. SolarEdge Technologies has a twelve month low of $12.38 and a twelve month high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue was down 64.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.03) earnings per share. As a group, equities analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in SEDG. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies in the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies during the 1st quarter valued at $64,000. KBC Group NV raised its stake in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the last quarter. First Pacific Financial raised its stake in SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares during the last quarter. Finally, US Bancorp DE raised its stake in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,834 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other 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.