SolarEdge Technologies (NASDAQ:SEDG) Given New $25.00 Price Target at Piper Sandler

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by Piper Sandler from $53.00 to $25.00 in a research report report published on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the stock. Northland Capmk cut shares of SolarEdge Technologies from a strong-buy rating to a hold rating in a research report on Thursday, May 9th. Janney Montgomery Scott cut SolarEdge Technologies from a buy rating to a neutral rating in a research note on Friday, March 22nd. TD Cowen cut their price target on SolarEdge Technologies from $85.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $64.00 to $49.00 and set a sell rating for the company in a report on Thursday, May 9th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $71.00 target price on shares of SolarEdge Technologies in a research report on Friday, June 7th. Four 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 company. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of Hold and an average price target of $77.27.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $24.99 on Wednesday. SolarEdge Technologies has a 52 week low of $24.72 and a 52 week high of $288.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The firm’s 50-day simple moving average is $48.85 and its 200 day simple moving average is $65.95. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -5.37 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. As a group, sell-side analysts predict that SolarEdge Technologies will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its stake 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 acquiring an additional 45,000 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of 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 purchasing an additional 3,107 shares in the last quarter. PGGM Investments increased its stake in SolarEdge Technologies by 32.2% during the 1st quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock valued at $37,666,000 after purchasing an additional 129,142 shares in the last quarter. Swedbank AB acquired a new position in SolarEdge Technologies during the first quarter worth $261,312,000. Finally, Tidal Investments LLC lifted its stake in shares of SolarEdge Technologies by 251.0% in the first quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock valued at $4,081,000 after buying an additional 41,116 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.