SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price decreased by Susquehanna from $24.00 to $20.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other research reports. DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group cut shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price target for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Canaccord Genuity Group cut their price objective on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. boosted their price target on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Seven research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.35.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $17.31 on Wednesday. SolarEdge Technologies has a 1 year low of $16.91 and a 1 year high of $120.74. The stock has a market capitalization of $991.86 million, a P/E ratio of -1.93 and a beta of 1.56. The company’s 50-day moving average is $21.73 and its 200 day moving average is $35.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period in the previous year, the firm posted $2.06 earnings per share. The business’s revenue was down 73.2% compared to the same quarter last year. On average, sell-side analysts expect that SolarEdge Technologies will post -8.53 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares during the period. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter worth about $64,000. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at about $28,000. Hexagon Capital Partners LLC increased its position in shares of SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 610 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of SolarEdge Technologies in the 1st quarter worth approximately $236,000. Institutional investors own 95.10% of the company’s stock.

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.