Jefferies Financial Group Begins Coverage on SolarEdge Technologies (NASDAQ:SEDG)

Jefferies Financial Group started coverage on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a hold rating and a $27.00 price target on the semiconductor company’s stock.

SEDG has been the subject of several other research reports. Roth Mkm lowered their target price on shares of SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating for the company in a report on Thursday, August 8th. Citigroup reduced their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a neutral rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada dropped their target price on shares of SolarEdge Technologies from $37.00 to $35.00 and set a sector perform rating on the stock in a research report on Thursday, August 8th. Northland Capmk lowered SolarEdge Technologies from a strong-buy rating to a hold rating in a report on Thursday, May 9th. Finally, DZ Bank downgraded SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 price target for the company. in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of Hold and a consensus price target of $51.62.

SolarEdge Technologies Price Performance

SEDG stock opened at $19.49 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The business has a 50-day simple moving average of $25.51 and a two-hundred day simple moving average of $46.01. The company has a market capitalization of $1.12 billion, a P/E ratio of -4.19 and a beta of 1.56. SolarEdge Technologies has a 52-week low of $19.43 and a 52-week high of $153.08.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The firm’s quarterly revenue was down 73.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 EPS. Research analysts expect that SolarEdge Technologies will post -8.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its position 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 valued at $27,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of SolarEdge Technologies by 1,066.7% during the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 640 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies in the 1st quarter worth approximately $64,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at $28,000. Institutional investors 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.