The Goldman Sachs Group Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $10.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by equities research analysts at The Goldman Sachs Group from $19.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 33.24% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Citigroup dropped their price objective on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets dropped their price objective on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, Susquehanna dropped their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.65.

SolarEdge Technologies Stock Up 2.0 %

Shares of SolarEdge Technologies stock traded up $0.30 during trading on Thursday, reaching $14.98. The company had a trading volume of 11,727,547 shares, compared to its average volume of 3,417,273. The company has a market cap of $858.35 million, a price-to-earnings ratio of -1.59 and a beta of 1.59. The firm’s fifty day moving average is $19.54 and its 200-day moving average is $31.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. SolarEdge Technologies has a fifty-two week low of $12.38 and a fifty-two week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) 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 net margin of 33.86% and a negative return on equity of 18.00%. The business’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.06 EPS. On average, analysts anticipate that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the first quarter worth approximately $64,000. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $28,000. KBC Group NV lifted its position in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of SolarEdge Technologies in the 1st quarter valued at approximately $236,000. Finally, First Pacific Financial lifted its position in shares of SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 1,805 shares in the last quarter. 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.