SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Rating of “Reduce” by Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned a consensus rating of “Reduce” from the twenty-nine research firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.16.

SEDG has been the topic of several recent research reports. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. UBS Group reduced their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, TD Cowen decreased their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th.

SolarEdge Technologies Trading Down 1.9 %

SEDG opened at $14.71 on Wednesday. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $87.98. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $13.99 and a 200-day simple moving average of $19.67. The firm has a market cap of $852.44 million, a P/E ratio of -0.51 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s revenue was down 64.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.03) earnings per share. On average, equities analysts expect that SolarEdge Technologies will post -19.18 earnings per share for the current year.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery purchased 156,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV raised its stake in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 4,567 shares during the period. US Bancorp DE raised its stake in shares of SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $229,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in SolarEdge Technologies in the 3rd quarter valued at $278,000. 95.10% of the stock is owned by hedge funds and other 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.