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

SolarEdge Technologies (NASDAQ:SEDG) had its target price decreased by equities research analysts at TD Cowen from $16.00 to $11.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target would indicate a potential downside of 18.70% from the company’s current price.

Other analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their target price for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Susquehanna lowered their price target on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Barclays reduced their price objective on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a report on Friday, October 11th. Roth Mkm lowered their target price on shares of SolarEdge Technologies from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Finally, Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $21.00 to $14.00 in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Stock Down 9.1 %

SolarEdge Technologies stock opened at $13.53 on Thursday. The firm has a market capitalization of $775.27 million, a P/E ratio of -0.47 and a beta of 1.59. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a twelve month low of $12.38 and a twelve month high of $103.15. The stock’s fifty day simple moving average is $19.12 and its 200-day simple moving average is $30.89.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly 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). The company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative return on equity of 56.32% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. As a group, equities analysts expect that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SEDG. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new position in SolarEdge Technologies in the 1st quarter valued at $64,000. KBC Group NV increased its stake 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 buying an additional 1,378 shares during the period. First Pacific Financial raised its position in SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,805 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 4,834 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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.