SolarEdge Technologies (NASDAQ:SEDG) Given New $20.00 Price Target at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by Roth Mkm from $23.00 to $20.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on SEDG. Bank of America lowered their price target on SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. BMO Capital Markets lowered their target price on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Glj Research downgraded shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Canaccord Genuity Group cut their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research report on Tuesday, June 25th. Seven equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.52.

SolarEdge Technologies Trading Down 15.0 %

Shares of SolarEdge Technologies stock opened at $14.95 on Monday. 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 12-month low of $14.89 and a 12-month high of $103.15. The company has a market capitalization of $856.35 million, a price-to-earnings ratio of -1.66 and a beta of 1.56. The firm’s 50-day moving average price is $21.40 and its two-hundred day moving average price is $34.57.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. During the same quarter in the prior year, the business posted $2.06 EPS. The business’s revenue was down 73.2% on a year-over-year basis. On average, analysts forecast that SolarEdge Technologies will post -8.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the business. Albion Financial Group UT grew its position in shares of SolarEdge Technologies by 32.2% during the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after buying an additional 955 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in SolarEdge Technologies by 3,750.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after acquiring an additional 45,000 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in SolarEdge Technologies in the second quarter valued at $678,000. Handelsbanken Fonder AB raised its holdings in shares of SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after purchasing an additional 202,010 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth about $679,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.