SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $35.00 by Analysts at Royal Bank of Canada

SolarEdge Technologies (NASDAQ:SEDG) had its price target trimmed by Royal Bank of Canada from $37.00 to $35.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a sector perform rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on the company. Scotiabank cut their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a sector perform rating for the company in a research report on Thursday. Northland Securities downgraded SolarEdge Technologies from an outperform rating to a market perform rating in a research report on Thursday, May 9th. Canaccord Genuity Group cut their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a hold rating for the company in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on SolarEdge Technologies from $49.00 to $50.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Finally, Roth Mkm cut their price objective on SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $52.92.

SolarEdge Technologies Stock Performance

SEDG stock traded down $1.67 on Thursday, reaching $21.20. The company’s stock had a trading volume of 5,008,179 shares, compared to its average volume of 4,727,371. SolarEdge Technologies has a 52 week low of $19.81 and a 52 week high of $186.79. The company has a market capitalization of $1.21 billion, a P/E ratio of -4.56 and a beta of 1.52. The firm has a fifty day moving average of $31.29 and a two-hundred day moving average of $52.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. As a group, analysts predict that SolarEdge Technologies will post -7.01 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently made changes to their positions in the stock. Brevan Howard Capital Management LP lifted its stake in SolarEdge Technologies by 110.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock worth $3,685,000 after purchasing an additional 20,654 shares during the period. Albion Financial Group UT lifted its stake 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 purchasing an additional 955 shares during the period. International Assets Investment Management LLC lifted its stake in SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after purchasing an additional 103,293 shares during the period. Principal Financial Group Inc. increased its holdings in shares of SolarEdge Technologies by 371.3% during the fourth quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after buying an additional 227,634 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of 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 in the last quarter. 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.