SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Recommendation of “Hold” by Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned a consensus rating of “Hold” from the thirty-three research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $49.35.

A number of equities analysts have recently issued reports on SEDG shares. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price target for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Truist Financial restated a “hold” rating and issued a $20.00 price target on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Scotiabank reduced their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Mizuho cut their price target on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies during the second quarter valued at about $28,000. GAMMA Investing LLC increased its position in SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc raised its holdings in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares during the period. EntryPoint Capital LLC acquired a new position in SolarEdge Technologies during the first quarter valued at approximately $64,000. Finally, Hexagon Capital Partners LLC grew its stake in SolarEdge Technologies by 120.8% during the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after buying an additional 610 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $23.12 on Monday. SolarEdge Technologies has a 52 week low of $17.12 and a 52 week high of $135.95. The company has a 50-day moving average price of $23.52 and a 200 day moving average price of $40.35. The company has a market cap of $1.32 billion, a P/E ratio of -4.97 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.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly 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 business had revenue of $265.41 million during 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%. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. Research analysts predict that SolarEdge Technologies will post -8.57 earnings per share for the current year.

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.