SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $22.04 Average Price Target from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received an average recommendation of “Reduce” from the twenty-nine ratings firms that are covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $22.04.

A number of equities analysts have recently weighed in on SEDG shares. Barclays cut their price target on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a report on Friday, November 15th. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price objective for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Susquehanna reduced their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, William Blair assumed coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They issued a “market perform” rating for the company.

SolarEdge Technologies Stock Down 7.7 %

SEDG opened at $12.32 on Friday. SolarEdge Technologies has a one year low of $10.24 and a one year high of $103.15. The company has a market cap of $713.94 million, a price-to-earnings ratio of -0.42 and a beta of 1.56. The business’s fifty day moving average is $15.08 and its two-hundred day moving average is $23.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

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 analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s revenue was down 64.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.03) earnings per share. Analysts anticipate that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman More Avery acquired 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently made changes to their positions in SEDG. International Assets Investment Management LLC acquired a new position in shares of SolarEdge Technologies during the second quarter valued at $28,000. KBC Group NV raised its holdings in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares in the last quarter. First Pacific Financial lifted its position in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the period. US Bancorp DE boosted its stake in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of SolarEdge Technologies in the third quarter valued at $229,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

About SolarEdge Technologies

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.