SolarEdge Technologies (NASDAQ:SEDG) Earns “Hold” Rating from TD Cowen

TD Cowen reaffirmed their hold rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report published on Monday morning, Marketbeat.com reports. The firm currently has a $16.00 price objective on the semiconductor company’s stock, down from their previous price objective of $35.00.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets decreased their price objective on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. William Blair initiated coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. raised their price target on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Canaccord Genuity Group lowered their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $34.44.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $17.01 on Monday. SolarEdge Technologies has a fifty-two week low of $16.45 and a fifty-two week high of $103.15. The stock’s fifty day moving average is $21.73 and its two-hundred day moving average is $35.42. 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 issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $264.31 million. During the same period in the previous year, the company posted $2.06 earnings per share. SolarEdge Technologies’s revenue was down 73.2% on a year-over-year basis. Sell-side analysts forecast that SolarEdge Technologies will post -8.75 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently made changes to their positions in SEDG. Albion Financial Group UT increased its stake in shares of SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after buying an additional 955 shares during the last quarter. DekaBank Deutsche Girozentrale raised 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 valued at $3,243,000 after purchasing an additional 45,000 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of SolarEdge Technologies during the second quarter worth about $678,000. Handelsbanken Fonder AB grew its stake in SolarEdge Technologies by 1,634.6% in the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after purchasing an additional 202,010 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in SolarEdge Technologies in the second quarter valued at about $679,000. 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.