SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $20.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by investment analysts at Roth Mkm from $23.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective points to a potential upside of 13.77% from the company’s current price.

Several other brokerages also recently weighed in on SEDG. The Goldman Sachs Group decreased their target price on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Morgan Stanley decreased their target price on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company decreased their target price on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and an average price target of $32.36.

SolarEdge Technologies Stock Performance

SEDG opened at $17.58 on Monday. The company has a market cap of $1.01 billion, a PE ratio of -1.96 and a beta of 1.56. The stock has a 50-day moving average of $21.64 and a 200-day moving average of $35.06. SolarEdge Technologies has a 52-week low of $16.45 and a 52-week high of $103.15. 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 (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The business’s revenue was down 73.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.06 EPS. As a group, equities research analysts forecast that SolarEdge Technologies will post -8.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at $28,000. GAMMA Investing LLC boosted its position in SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares during the last quarter. EntryPoint Capital LLC bought a new position in SolarEdge Technologies in the 1st quarter valued at $64,000. Hexagon Capital Partners LLC boosted its position in SolarEdge Technologies by 120.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares during the last quarter. Finally, First Pacific Financial boosted its position in 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 buying an additional 1,805 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

About SolarEdge Technologies

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.