SolarEdge Technologies (NASDAQ:SEDG) Given New $46.00 Price Target at Scotiabank

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by equities researchers at Scotiabank from $72.00 to $46.00 in a note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a “sector perform” rating on the semiconductor company’s stock. Scotiabank’s price target points to a potential upside of 38.35% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley lowered their price target on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Northland Securities downgraded shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Roth Mkm lowered their price target on shares of SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. TD Cowen lowered their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.88.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $33.25 on Tuesday. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.91 billion, a PE ratio of -7.15 and a beta of 1.62. SolarEdge Technologies has a twelve month low of $31.95 and a twelve month high of $288.87. The company has a 50-day moving average price of $50.21 and a two-hundred day moving average price of $66.61.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. Equities analysts forecast that SolarEdge Technologies will post -6.08 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in SolarEdge Technologies by 7.7% during the third quarter. Northern Trust Corp now owns 421,918 shares of the semiconductor company’s stock valued at $54,643,000 after buying an additional 30,153 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in SolarEdge Technologies by 194.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 183 shares during the period. Tower Research Capital LLC TRC lifted its position in SolarEdge Technologies by 318.0% during the third quarter. Tower Research Capital LLC TRC now owns 8,168 shares of the semiconductor company’s stock valued at $1,058,000 after buying an additional 6,214 shares during the period. California State Teachers Retirement System lifted its position in SolarEdge Technologies by 4.6% during the third quarter. California State Teachers Retirement System now owns 75,609 shares of the semiconductor company’s stock valued at $9,792,000 after buying an additional 3,311 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in SolarEdge Technologies during the third quarter valued at $3,702,000. 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.