SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Rating of “Reduce” by Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received a consensus rating of “Reduce” from the twenty-nine analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.84.

Several research analysts have weighed in on the stock. Mizuho downgraded shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Barclays increased their target price on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. UBS Group decreased their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Canaccord Genuity Group lifted their target price on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, the chairman now directly owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently made changes to their positions in the stock. AMG National Trust Bank bought a new position in SolarEdge Technologies in the third quarter worth about $4,055,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in SolarEdge Technologies by 683.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after acquiring an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after acquiring an additional 163,340 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after purchasing an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of SolarEdge Technologies during the third quarter worth $1,495,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Down 1.6 %

Shares of NASDAQ:SEDG opened at $13.10 on Friday. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $87.98. The stock’s fifty day moving average price is $14.20 and its 200-day moving average price is $18.35. The company has a market cap of $759.15 million, a P/E ratio of -0.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s revenue was down 64.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.03) EPS. Sell-side analysts expect that SolarEdge Technologies will post -23.22 earnings per share for the current year.

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.