SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Recommendation of “Reduce” from Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus rating of “Reduce” from the thirty-one analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.52.

Several research firms recently issued reports on SEDG. DZ Bank lowered SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research report on Wednesday, July 17th. Susquehanna reduced their price target on SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Guggenheim lowered SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 17th. 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. Finally, Royal Bank of Canada reduced their price target on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $15.26 on Friday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $874.10 million, a PE ratio of -3.28 and a beta of 1.56. The business’s 50-day moving average price is $21.22 and its 200-day moving average price is $34.44. SolarEdge Technologies has a 12 month low of $14.82 and a 12 month high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.06 earnings per share. Sell-side analysts forecast that SolarEdge Technologies will post -8.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SEDG. Swedbank AB purchased a new position in SolarEdge Technologies during the first quarter valued at $261,312,000. Quarry LP purchased a new position in SolarEdge Technologies during the second quarter valued at $36,627,000. Marshall Wace LLP raised its stake in SolarEdge Technologies by 425.1% during the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after buying an additional 450,081 shares during the last quarter. Quadrature Capital Ltd raised its stake in SolarEdge Technologies by 1,206.8% during the first quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock valued at $17,080,000 after buying an additional 222,218 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake 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 valued at $4,911,000 after buying an additional 202,010 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.