SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $21.00 at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by BMO Capital Markets from $24.00 to $21.00 in a research note published on Monday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, June 25th. Roth Mkm decreased their price objective on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. William Blair started coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, July 2nd. Finally, DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.35.

SolarEdge Technologies Stock Down 3.4 %

Shares of SolarEdge Technologies stock opened at $17.93 on Monday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -1.99 and a beta of 1.56. The stock has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $36.24. SolarEdge Technologies has a 52-week low of $16.91 and a 52-week high of $126.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 earnings per share. On average, equities research analysts expect that SolarEdge Technologies will post -8.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Albion Financial Group UT boosted its stake in SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 955 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in SolarEdge Technologies by 3,750.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after purchasing an additional 45,000 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of SolarEdge Technologies during the 2nd quarter worth about $678,000. Handelsbanken Fonder AB increased its stake in shares of SolarEdge Technologies by 1,634.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after acquiring an additional 202,010 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $679,000. Institutional investors own 95.10% of the company’s stock.

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.