SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $29.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target upped by equities researchers at Piper Sandler from $25.00 to $29.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective points to a potential upside of 13.64% from the company’s current price.

A number of other research firms also recently issued reports on SEDG. Bank of America increased their price objective on SolarEdge Technologies from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Canaccord Genuity Group decreased their price objective on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating for the company in a report on Friday, May 10th. Northland Securities downgraded SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Finally, TD Cowen decreased their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.58.

SolarEdge Technologies Trading Down 3.0 %

Shares of SolarEdge Technologies stock opened at $25.52 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The business has a 50 day moving average of $37.47 and a 200 day moving average of $57.12. SolarEdge Technologies has a 52 week low of $23.51 and a 52 week high of $265.42.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The business had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. On average, equities research analysts predict that SolarEdge Technologies will post -6.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SEDG. Manchester Capital Management LLC lifted its holdings in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. GAMMA Investing LLC bought a new position in SolarEdge Technologies in the fourth quarter valued at about $30,000. Versant Capital Management Inc lifted its holdings 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 valued at $50,000 after acquiring an additional 640 shares during the period. EntryPoint Capital LLC bought a new position in SolarEdge Technologies in the first quarter valued at about $64,000. Finally, 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 period. Institutional investors own 95.10% of the company’s stock.

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.