Truist Financial Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by Truist Financial from $20.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on SEDG. DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Barclays cut their price target on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a report on Friday, October 11th. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley cut their price target on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $13.68 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 2.45. The firm has a market cap of $783.86 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company has a 50 day moving average price of $18.91 and a 200-day moving average price of $30.22. SolarEdge Technologies has a 1-year low of $12.38 and a 1-year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.03) earnings per share. Equities research analysts forecast that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in SEDG. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies in the first quarter valued at approximately $64,000. KBC Group NV raised its position in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial raised its position in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,805 shares during the period. Finally, US Bancorp DE raised its position in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the period. 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.