Barclays Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $17.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by Barclays from $26.00 to $17.00 in a research report report published on Friday, Benzinga reports. The firm currently has an underweight rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on SEDG. Mizuho lowered their price target on SolarEdge Technologies from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Thursday, September 19th. DZ Bank downgraded shares of SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 target price for the company. in a research note on Wednesday, July 17th. Canaccord Genuity Group decreased their price target on SolarEdge Technologies from $58.00 to $38.00 and set a hold rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group lowered their target price on shares of SolarEdge Technologies from $25.00 to $19.00 and set a sell rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley lowered their price target on SolarEdge Technologies from $28.00 to $23.00 and set an equal weight rating for the company in a research note on Tuesday, October 8th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $42.80.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $19.46 on Friday. SolarEdge Technologies has a 52-week low of $17.12 and a 52-week high of $130.38. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.16 and a beta of 1.56. The company’s fifty day moving average is $22.24 and its two-hundred day moving average is $37.24. 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 announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same period last year, the firm earned $2.06 EPS. The company’s quarterly revenue was down 73.2% compared to the same quarter last year. Equities research analysts forecast that SolarEdge Technologies will post -8.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vancity Investment Management Ltd raised its stake in SolarEdge Technologies by 3.3% in the fourth quarter. Vancity Investment Management Ltd now owns 18,536 shares of the semiconductor company’s stock valued at $1,735,000 after purchasing an additional 586 shares in the last quarter. Scarborough Advisors LLC bought a new stake in SolarEdge Technologies during the 4th quarter worth approximately $181,000. Teachers Retirement System of The State of Kentucky increased its holdings in SolarEdge Technologies by 217.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 15,943 shares of the semiconductor company’s stock valued at $1,492,000 after purchasing an additional 10,926 shares during the period. Quintet Private Bank Europe S.A. increased its stake in shares of SolarEdge Technologies by 55.9% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 122,439 shares of the semiconductor company’s stock valued at $11,460,000 after buying an additional 43,890 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock valued at $2,047,000 after purchasing an additional 378 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

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.