Susquehanna Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Susquehanna from $20.00 to $11.00 in a research report report published on Thursday morning,Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

SEDG has been the topic of several other research reports. Guggenheim lowered 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. Deutsche Bank Aktiengesellschaft cut their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Mizuho lowered SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the company from $35.00 to $11.00 in a research note on Thursday. Piper Sandler lowered SolarEdge Technologies from a “neutral” rating to an “underweight” rating and cut their target price for the company from $17.00 to $9.00 in a research note on Thursday. Finally, Canaccord Genuity Group cut their target price on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Stock Down 9.1 %

NASDAQ:SEDG opened at $13.53 on Thursday. The company has a market cap of $775.27 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company has a current ratio of 2.34, a quick ratio of 2.45 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a twelve month low of $12.38 and a twelve month high of $103.15. The stock has a fifty day simple moving average of $19.12 and a 200-day simple moving average of $30.52.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s quarterly revenue was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.03) EPS. Analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of SolarEdge Technologies during the second quarter worth about $28,000. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies during the first quarter worth about $64,000. KBC Group NV lifted its holdings in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial lifted its holdings in shares of SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. 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.