SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $12.00 by Analysts at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by equities research analysts at BMO Capital Markets from $21.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price target would suggest a potential downside of 18.53% from the stock’s current price.

Several other equities research analysts have also issued reports on SEDG. William Blair assumed coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $11.00 in a research note on Thursday. 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. Finally, TD Cowen reduced their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday. Nine investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.26.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded up $0.05 during mid-day trading on Thursday, hitting $14.73. 12,801,632 shares of the stock were exchanged, compared to its average volume of 3,424,697. SolarEdge Technologies has a 12 month low of $12.38 and a 12 month high of $103.15. The company has a 50-day simple moving average of $19.54 and a 200 day simple moving average of $31.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The company has a market capitalization of $844.03 million, a P/E ratio of -1.63 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. 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 prior year, the business earned $2.06 EPS. SolarEdge Technologies’s quarterly revenue was down 73.2% compared to the same quarter last year. Sell-side analysts anticipate that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in SEDG. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the 2nd quarter worth $28,000. EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth $64,000. KBC Group NV lifted its holdings in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the last quarter. First Pacific Financial lifted its holdings in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 1,805 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of SolarEdge Technologies by 243.6% during the 3rd 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 during the last quarter. 95.10% of the stock is owned by 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.