SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $17.00 at Piper Sandler

SolarEdge Technologies (NASDAQ:SEDG) had its target price lowered by investment analysts at Piper Sandler from $25.00 to $17.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective would indicate a potential downside of 1.79% from the company’s previous close.

A number of other equities research analysts have also weighed in on SEDG. Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 2nd. Guggenheim lowered shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a research note on Thursday. TD Cowen cut their price objective on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. DZ Bank downgraded shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research report on Wednesday, July 17th. Finally, Truist Financial reissued a “hold” rating and set a $20.00 price objective on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. Seven analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.35.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $17.31 on Thursday. The firm has a market cap of $991.86 million, a P/E ratio of -1.93 and a beta of 1.56. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $21.73 and a 200 day moving average of $35.87. SolarEdge Technologies has a twelve month low of $16.91 and a twelve month high of $120.74.

SolarEdge Technologies (NASDAQ:SEDG) last announced its 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 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%. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. As a group, research analysts expect that SolarEdge Technologies will post -8.53 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the 2nd quarter worth $28,000. GAMMA Investing LLC raised its position in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies during the 1st quarter valued at about $64,000. Hexagon Capital Partners LLC raised its position in shares of 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 buying an additional 610 shares in the last quarter. Finally, First Pacific Financial raised its position in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares in the last quarter. Hedge funds and other 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.