SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) to a sell rating in a report published on Friday morning.

SEDG has been the topic of a number of other research reports. Mizuho cut shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $11.00 in a research report on Thursday. Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $14.00 in a report on Thursday. TD Cowen decreased their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday. Morgan Stanley cut their target price on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Barclays decreased their price target on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Trading Down 9.1 %

Shares of NASDAQ:SEDG traded down $1.35 during midday trading on Friday, reaching $13.53. The company’s stock had a trading volume of 7,877,671 shares, compared to its average volume of 3,473,123. The firm has a market capitalization of $775.27 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The firm has a 50 day moving average price of $19.12 and a two-hundred day moving average price of $30.89. 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 released 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 for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 56.32%. The firm’s revenue was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 EPS. As a group, analysts forecast that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the company. Meitav Investment House Ltd. raised its holdings in SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after acquiring an additional 51,065 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in SolarEdge Technologies during the 3rd quarter worth about $1,495,000. E. Ohman J or Asset Management AB boosted its stake in SolarEdge Technologies by 109.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock worth $8,559,000 after purchasing an additional 195,085 shares during the period. Assenagon Asset Management S.A. boosted its stake in SolarEdge Technologies by 56.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock worth $7,093,000 after purchasing an additional 111,944 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in SolarEdge Technologies during the 2nd quarter valued at about $678,000. Hedge funds and other 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.