SolarEdge Technologies (NASDAQ:SEDG) Given New $20.00 Price Target at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective dropped by Roth Mkm from $23.00 to $20.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective points to a potential upside of 20.26% from the company’s previous close.

Several other analysts have also recently issued reports on SEDG. Scotiabank cut their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut their price objective on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. Mizuho cut their price objective on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Jefferies Financial Group cut SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price objective for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.44.

SolarEdge Technologies Stock Down 3.9 %

Shares of NASDAQ:SEDG traded down $0.68 during trading on Monday, hitting $16.63. The company’s stock had a trading volume of 2,084,170 shares, compared to its average volume of 3,260,354. 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 has a fifty-two week low of $16.50 and a fifty-two week high of $103.15. The stock’s 50-day moving average price is $21.73 and its two-hundred day moving average price is $35.65. The company has a market capitalization of $952.88 million, a PE ratio of -3.56 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS 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 during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the firm posted $2.06 EPS. The company’s revenue was down 73.2% compared to the same quarter last year. As a group, sell-side analysts expect that SolarEdge Technologies will post -8.53 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its stake in SolarEdge Technologies by 58.9% during the 3rd quarter. Everence Capital Management Inc. now owns 14,890 shares of the semiconductor company’s stock valued at $341,000 after purchasing an additional 5,520 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of SolarEdge Technologies by 16.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 98,616 shares of the semiconductor company’s stock valued at $2,259,000 after acquiring an additional 13,860 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of SolarEdge Technologies by 1,634.6% during 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. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of SolarEdge Technologies by 24.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 181,500 shares of the semiconductor company’s stock valued at $4,585,000 after acquiring an additional 35,495 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at $36,627,000. 95.10% of the stock is owned by institutional investors.

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.