BMO Capital Markets Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by BMO Capital Markets from $21.00 to $12.00 in a report published on Thursday,Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price objective 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. 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 report on Thursday, October 17th. Scotiabank reduced their price target on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Morgan Stanley cut their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Finally, DZ Bank lowered SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.79.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $13.53 on Thursday. The stock has a market cap of $775.26 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. SolarEdge Technologies has a 12 month low of $12.38 and a 12 month high of $103.15. The company’s 50 day moving average is $19.12 and its two-hundred day moving average is $30.71. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last announced its 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 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 158.19% and a negative return on equity of 56.32%. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.06 earnings per share. As a group, research analysts anticipate that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth about $28,000. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter valued at approximately $64,000. KBC Group NV lifted its position in SolarEdge Technologies by 95.8% during the third 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 in the last quarter. First Pacific Financial grew its stake in 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 buying an additional 1,805 shares during the period. Finally, US Bancorp DE increased its position in shares of SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 4,834 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.