The Goldman Sachs Group Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by The Goldman Sachs Group from $19.00 to $10.00 in a research note released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays dropped their target price on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group dropped their price objective on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Scotiabank cut their price objective on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Finally, Glj Research cut SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Stock Down 4.1 %

Shares of SolarEdge Technologies stock opened at $12.98 on Thursday. The firm has a market cap of $743.75 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The stock’s 50-day moving average is $19.12 and its 200 day moving average is $30.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 2.45. SolarEdge Technologies has a one year low of $12.38 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same period in the previous year, the company posted ($1.03) earnings per share. The company’s quarterly revenue was down 64.0% compared to the same quarter last year. Equities research analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Trillium Asset Management LLC lifted its position in SolarEdge Technologies by 1.6% in the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock worth $1,960,000 after purchasing an additional 427 shares during the period. Yelin Lapidot Holdings Management Ltd. grew its stake in SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 564 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in SolarEdge Technologies by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock valued at $3,525,000 after acquiring an additional 585 shares during the period. Swiss National Bank lifted its position in SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 600 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of SolarEdge Technologies by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 700 shares in the last quarter. 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.