SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Reaffirmed by TD Cowen

TD Cowen reiterated their hold rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report released on Monday, MarketBeat Ratings reports. TD Cowen currently has a $16.00 price objective on the semiconductor company’s stock, down from their prior price objective of $35.00.

SEDG has been the subject of a number of other research reports. Jefferies Financial Group lowered SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Finally, Guggenheim downgraded SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 17th. Seven analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.52.

SolarEdge Technologies Trading Down 15.0 %

Shares of NASDAQ SEDG opened at $14.95 on Monday. The company has a market cap of $856.35 million, a PE ratio of -1.66 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm’s 50 day moving average price is $21.40 and its 200-day moving average price is $34.57. SolarEdge Technologies has a 52-week low of $14.89 and a 52-week high of $103.15.

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). The business had revenue of $265.41 million for 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 business’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.06 earnings per share. On average, equities research analysts expect that SolarEdge Technologies will post -8.75 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

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