SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to an underperform rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $17.00 price objective on the semiconductor company’s stock, down from their prior price objective of $27.00.

Several other research firms have also weighed in on SEDG. Deutsche Bank Aktiengesellschaft lowered their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a hold rating on the stock in a research note on Friday, August 9th. Piper Sandler reduced their price target on SolarEdge Technologies from $29.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. DZ Bank downgraded SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 price objective on the stock. in a research note on Wednesday, July 17th. Roth Mkm reduced their price target 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. Finally, Susquehanna decreased their price target on shares of SolarEdge Technologies from $36.00 to $24.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $49.35.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $21.20 on Tuesday. 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 business’s 50-day moving average is $24.54 and its 200-day moving average is $43.02. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $141.70.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The company had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS. On average, analysts anticipate that SolarEdge Technologies will post -8.67 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc raised its stake in SolarEdge Technologies by 1,066.7% in 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 last quarter. EntryPoint Capital LLC purchased a new position in shares of SolarEdge Technologies in the first quarter worth about $64,000. Finally, Hexagon Capital Partners LLC lifted its stake in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 610 shares during the period. 95.10% of the stock is currently owned by institutional investors.

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.