SolarEdge Technologies (NASDAQ:SEDG) Downgraded to Neutral Rating by Mizuho

Mizuho downgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from an outperform rating to a neutral rating in a report published on Thursday morning, MarketBeat reports. They currently have $11.00 price objective on the semiconductor company’s stock, down from their prior price objective of $35.00.

Other analysts have also recently issued research reports about the stock. William Blair assumed coverage on shares of SolarEdge Technologies in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. TD Cowen cut their target price 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. Scotiabank decreased their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Canaccord Genuity Group decreased their target price on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Trading Down 9.1 %

NASDAQ:SEDG traded down $1.35 during trading hours on Thursday, reaching $13.53. 7,872,062 shares of the stock were exchanged, compared to its average volume of 3,473,123. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $19.34 and a two-hundred day moving average of $31.18. SolarEdge Technologies has a twelve month low of $12.38 and a twelve month high of $103.15. The company has a market capitalization of $775.27 million, a price-to-earnings ratio of -0.46 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data 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). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 56.32%. The firm had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the prior year, the firm posted $2.06 EPS. SolarEdge Technologies’s quarterly revenue was down 73.2% compared to the same quarter last year. On average, equities analysts predict that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. AMG National Trust Bank acquired a new position in SolarEdge Technologies in the 3rd quarter valued at about $4,055,000. Mizuho Markets Americas LLC grew its stake in shares of SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after purchasing an additional 163,340 shares during the last quarter. KBC Group NV grew its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of SolarEdge Technologies by 105.9% during the third quarter. GSA Capital Partners LLP now owns 28,196 shares of the semiconductor company’s stock worth $646,000 after purchasing an additional 14,503 shares during the last quarter. Finally, M&G PLC lifted its holdings in shares of SolarEdge Technologies by 4.2% during the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after purchasing an additional 38,001 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

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.