SolarEdge Technologies (NASDAQ:SEDG) Stock Gets Price Target Cut from JPMorgan Chase & Co.

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $44.00 to $38.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 22.34% from the stock’s current price.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group cut their target price on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a research note on Thursday, August 6th. Morgan Stanley decreased their price target on SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Friday, September 11th. UBS Group raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $42.00 in a report on Wednesday, August 26th. Susquehanna dropped their price objective on SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Finally, Wall Street Zen upgraded SolarEdge Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, October 11th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $38.33.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded down $0.30 during trading hours on Monday, hitting $31.06. 2,323,074 shares of the stock were exchanged, compared to its average volume of 3,391,267. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -6.90 and a beta of 1.44. SolarEdge Technologies has a 12-month low of $28.21 and a 12-month high of $81.25. The stock has a 50-day moving average of $32.94 and a 200 day moving average of $44.82.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. During the same quarter in the previous year, the company earned ($0.81) EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that SolarEdge Technologies will post -1.20 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Allworth Financial LP acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at approximately $31,000. Nykredit A S purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter worth approximately $36,000. Public Employees Retirement System of Ohio acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter worth approximately $72,000. State of Wyoming grew its holdings in shares of SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 306 shares during the period. Finally, EFG International AG purchased a new position in SolarEdge Technologies in the 2nd quarter valued at approximately $123,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.