Bank of America Upgrades SolarEdge Technologies (NASDAQ:SEDG) to “Neutral”

Bank of America upgraded shares of SolarEdge Technologies (NASDAQ:SEDGFree Report) from an underperform rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports. The firm currently has $29.00 target price on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on SEDG. Roth Mkm dropped their target price on SolarEdge Technologies from $76.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, May 7th. Susquehanna lowered SolarEdge Technologies from a positive rating to a neutral rating and dropped their price objective for the company from $92.00 to $56.00 in a report on Monday, May 13th. Piper Sandler reduced their target price on SolarEdge Technologies from $53.00 to $25.00 and set a neutral rating for the company in a research note on Wednesday, June 26th. Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $62.00 to $29.00 and set an equal weight rating on the stock in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets reduced their price objective on shares of SolarEdge Technologies from $73.00 to $56.00 and set a market perform rating for the company in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of Hold and an average target price of $73.19.

View Our Latest Stock Analysis on SEDG

SolarEdge Technologies Trading Up 10.3 %

Shares of NASDAQ:SEDG opened at $29.63 on Monday. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 12-month low of $23.51 and a 12-month high of $288.87. The business has a 50 day moving average of $42.54 and a two-hundred day moving average of $61.35. The company has a market capitalization of $1.70 billion, a PE ratio of -6.37 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The firm had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. As a group, analysts forecast that SolarEdge Technologies will post -6.52 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $30,000. Compagnie Lombard Odier SCmA lifted its holdings in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. Versant Capital Management Inc grew its position in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 640 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the first quarter worth $64,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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