SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

SolarEdge Technologies (NASDAQ:SEDG) had its target price upped by research analysts at BMO Capital Markets from $19.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the semiconductor company’s stock. BMO Capital Markets’ target price points to a potential downside of 37.46% from the stock’s previous close.

SEDG has been the topic of several other research reports. UBS Group lifted their price objective on shares of SolarEdge Technologies from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 19th. Oppenheimer reaffirmed a “market perform” rating on shares of SolarEdge Technologies in a report on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of SolarEdge Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on SolarEdge Technologies from $22.00 to $25.00 and gave the company a “sector perform” rating in a research report on Monday, October 20th. Finally, The Goldman Sachs Group boosted their price objective on SolarEdge Technologies from $27.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Eighteen analysts have rated the stock with a Hold rating and eleven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $22.64.

SolarEdge Technologies Stock Down 2.5%

Shares of SolarEdge Technologies stock opened at $39.98 on Thursday. The stock’s 50-day moving average is $35.74 and its 200 day moving average is $26.72. SolarEdge Technologies has a one year low of $10.24 and a one year high of $41.92. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -1.35 and a beta of 1.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.94 and a quick ratio of 1.42.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share for the quarter, meeting the consensus estimate of ($0.81). SolarEdge Technologies had a negative return on equity of 191.53% and a negative net margin of 177.64%.The business had revenue of $289.43 million for the quarter, compared to analysts’ expectations of $270.03 million. During the same period last year, the business earned ($1.79) EPS. The business’s revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of SEDG. GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 5.1% during the third quarter. GAMMA Investing LLC now owns 6,207 shares of the semiconductor company’s stock worth $230,000 after acquiring an additional 302 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its position in SolarEdge Technologies by 6.7% during the second quarter. Resona Asset Management Co. Ltd. now owns 6,472 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 404 shares during the period. Tidal Investments LLC grew its stake in shares of SolarEdge Technologies by 1.2% during the second quarter. Tidal Investments LLC now owns 42,411 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 484 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of SolarEdge Technologies by 2.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 17,352 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 486 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in SolarEdge Technologies by 21.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 508 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.