SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $20.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by equities research analysts at Roth Mkm from $23.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s target price would indicate a potential upside of 13.77% from the company’s current price.

Several other research firms have also issued reports on SEDG. Morgan Stanley reduced their price target on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group reduced their price target on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Piper Sandler reduced their price target on SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays dropped their price objective on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Seven analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.36.

SolarEdge Technologies Stock Up 3.4 %

Shares of SEDG opened at $17.58 on Monday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.96 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The business’s fifty day moving average price is $21.64 and its two-hundred day moving average price is $35.06. SolarEdge Technologies has a 52 week low of $16.45 and a 52 week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted 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 return on equity of 18.00% and a negative net margin of 33.86%. The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same quarter in the prior year, the business earned $2.06 earnings per share. The firm’s revenue for the quarter was down 73.2% on a year-over-year basis. On average, analysts predict that SolarEdge Technologies will post -8.75 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Albion Financial Group UT raised its holdings in SolarEdge Technologies by 32.2% during the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 955 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in SolarEdge Technologies by 3,750.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after buying an additional 45,000 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in SolarEdge Technologies during the second quarter worth approximately $678,000. Handelsbanken Fonder AB increased its position in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after buying an additional 202,010 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in SolarEdge Technologies during the second quarter worth approximately $679,000. 95.10% of the stock is currently owned by 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.