SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $19.00 at JPMorgan Chase & Co.

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 46.95% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Barclays lifted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Roth Mkm reduced their price target on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. Finally, Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.84.

SolarEdge Technologies Stock Down 0.9 %

SEDG stock traded down $0.12 during mid-day trading on Thursday, reaching $12.93. The company had a trading volume of 2,043,774 shares, compared to its average volume of 4,396,436. The firm has a fifty day simple moving average of $13.87 and a 200 day simple moving average of $19.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company has a market capitalization of $749.29 million, a price-to-earnings ratio of -0.45 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter in the prior year, the firm earned ($1.03) EPS. The firm’s revenue was down 64.0% compared to the same quarter last year. Analysts forecast that SolarEdge Technologies will post -23.2 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AMG National Trust Bank purchased a new stake in SolarEdge Technologies during the 3rd quarter worth approximately $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after acquiring an additional 220,304 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in shares of SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after buying an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in shares of SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in SolarEdge Technologies in the third quarter worth $1,495,000. 95.10% of the stock is owned by hedge funds and other 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.