Susquehanna Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $11.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by Susquehanna from $20.00 to $11.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price points to a potential downside of 18.70% from the stock’s current price.

A number of other research firms have also recently commented on SEDG. Glj Research cut SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Scotiabank lowered their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Mizuho cut SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $11.00 in a research report on Thursday. The Goldman Sachs Group reduced their price objective on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial reaffirmed a “hold” rating and set a $20.00 target price on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $23.79.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $1.35 during trading on Thursday, hitting $13.53. 7,877,671 shares of the stock traded hands, compared to its average volume of 3,473,123. The company has a fifty day moving average price of $19.12 and a two-hundred day moving average price of $30.89. SolarEdge Technologies has a 52-week low of $12.38 and a 52-week high of $103.15. The company has a market cap of $775.27 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 56.32% and a negative net margin of 158.19%. The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the company posted $2.06 EPS. The company’s revenue was down 73.2% on a year-over-year basis. As a group, equities analysts predict that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies during the second quarter worth $28,000. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies during the 1st quarter valued at about $64,000. KBC Group NV grew its position in SolarEdge Technologies by 95.8% in 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 in the last quarter. First Pacific Financial increased its stake in SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the period. Finally, US Bancorp DE lifted its position 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 in the last quarter. 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.