SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $25.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by analysts at The Goldman Sachs Group from $49.00 to $25.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 1.03% from the company’s previous close.

SEDG has been the topic of several other research reports. Canaccord Genuity Group dropped their price objective on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday. B. Riley dropped their price objective on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Canaccord Genuity Group dropped their price objective on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on shares of SolarEdge Technologies from $53.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Northland Capmk lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and a consensus price target of $76.35.

SolarEdge Technologies Stock Down 0.0 %

Shares of NASDAQ:SEDG opened at $25.26 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The company has a market cap of $1.45 billion, a PE ratio of -5.43 and a beta of 1.62. SolarEdge Technologies has a 52 week low of $24.44 and a 52 week high of $288.87. The firm has a 50 day simple moving average of $47.60 and a 200 day simple moving average of $65.29.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, research analysts expect that SolarEdge Technologies will post -6.3 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its holdings in shares of SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 269 shares during the period. GAMMA Investing LLC bought a new position in shares of SolarEdge Technologies during the 4th quarter worth about $30,000. Compagnie Lombard Odier SCmA lifted its holdings in shares of SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares during the period. Versant Capital Management Inc lifted its holdings in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 640 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of SolarEdge Technologies during the 1st quarter worth about $64,000. 95.10% of the stock is owned by institutional investors.

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.