SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.72 Consensus PT from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received an average recommendation of “Reduce” from the twenty-nine ratings firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.16.

A number of brokerages have recently weighed in on SEDG. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $9.00 price target (down from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. BMO Capital Markets dropped their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Citigroup reaffirmed a “sell” rating and set a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday. Finally, Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $21.00 to $14.00 in a research report on Thursday, November 7th.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AMG National Trust Bank bought a new stake in SolarEdge Technologies during the third quarter worth approximately $4,055,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 worth $5,786,000 after buying an additional 220,304 shares during the period. Mizuho Markets Americas LLC grew its stake in SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 9.6% in the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after buying an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in SolarEdge Technologies in the 3rd quarter worth $1,495,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 1.9 %

SEDG opened at $14.71 on Wednesday. The stock’s 50 day moving average price is $14.05 and its 200 day moving average price is $19.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The stock has a market cap of $852.44 million, a P/E ratio of -0.51 and a beta of 1.56. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted ($1.03) earnings per share. As a group, research analysts predict that SolarEdge Technologies will post -19.18 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.