Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $49.35

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given an average recommendation of “Hold” by the thirty-three research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-five have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.35.

A number of brokerages recently weighed in on SEDG. Bank of America dropped their price objective on SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. William Blair began coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. TD Cowen lowered their target price on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm lowered their price objective on SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $20.13 on Monday. The stock has a 50-day simple moving average of $23.17 and a 200-day simple moving average of $39.52. The stock has a market capitalization of $1.15 billion, a PE ratio of -4.44 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $17.12 and a 1 year high of $130.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share 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 business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the previous year, the firm earned $2.06 EPS. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. On average, analysts predict that SolarEdge Technologies will post -8.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at $261,312,000. Vanguard Group Inc. raised its stake in SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after buying an additional 62,942 shares during the period. Quarry LP acquired a new stake in SolarEdge Technologies during the 2nd quarter worth $36,627,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in SolarEdge Technologies by 0.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after buying an additional 2,795 shares during the period. Finally, Marshall Wace LLP raised its stake in SolarEdge Technologies by 425.1% during the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after buying an additional 450,081 shares during the period. Institutional investors and hedge funds 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.