SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.72 Consensus PT from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received a consensus rating of “Reduce” from the twenty-nine analysts that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.28.

SEDG has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. TD Cowen decreased their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $21.00 to $14.00 in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $14.25 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $825.79 million, a price-to-earnings ratio of -0.49 and a beta of 1.56. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $87.98. The firm’s 50-day moving average price is $13.92 and its two-hundred day moving average price is $19.59.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. During the same period last year, the company earned ($1.03) earnings per share. SolarEdge Technologies’s revenue for the quarter was down 64.0% compared to the same quarter last year. On average, equities analysts predict that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman More Avery acquired 156,000 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently made changes to their positions in SEDG. Bank of New York Mellon Corp increased its position in shares of SolarEdge Technologies by 23.7% during the second quarter. Bank of New York Mellon Corp now owns 357,830 shares of the semiconductor company’s stock worth $9,039,000 after acquiring an additional 68,444 shares in the last quarter. Rhumbline Advisers increased its position in shares of SolarEdge Technologies by 3.6% during the second quarter. Rhumbline Advisers now owns 104,092 shares of the semiconductor company’s stock worth $2,629,000 after acquiring an additional 3,572 shares in the last quarter. Quest Partners LLC bought a new stake in shares of SolarEdge Technologies during the second quarter worth $294,000. Dimensional Fund Advisors LP increased its position in shares of SolarEdge Technologies by 42.6% during the second quarter. Dimensional Fund Advisors LP now owns 151,099 shares of the semiconductor company’s stock worth $3,817,000 after acquiring an additional 45,130 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of SolarEdge Technologies during the second quarter worth $4,391,000. 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.