SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $41.00 at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by equities researchers at Morgan Stanley from $83.00 to $41.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 55.30% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their price target on SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. Roth Mkm reduced their price target on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. DZ Bank initiated coverage on SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 target price on the stock. Northland Securities downgraded SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Finally, B. Riley reduced their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Four 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.27.

SolarEdge Technologies Stock Down 20.6 %

SEDG opened at $26.40 on Wednesday. The company has a market cap of $1.51 billion, a P/E ratio of -5.68 and a beta of 1.62. The business’s 50-day moving average price is $49.55 and its 200-day moving average price is $66.24. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies has a 12 month low of $24.72 and a 12 month high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, equities analysts expect that SolarEdge Technologies will post -6.12 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its stake in shares of SolarEdge Technologies by 3,750.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after purchasing an additional 45,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in SolarEdge Technologies by 19.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 19,050 shares of the semiconductor company’s stock worth $1,353,000 after buying an additional 3,107 shares during the period. PGGM Investments boosted its holdings in SolarEdge Technologies by 32.2% in the 1st quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock worth $37,666,000 after buying an additional 129,142 shares during the period. Swedbank AB bought a new position in SolarEdge Technologies in the 1st quarter worth $261,312,000. Finally, Tidal Investments LLC boosted its holdings in SolarEdge Technologies by 251.0% in the 1st quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock worth $4,081,000 after buying an additional 41,116 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.