SolarEdge Technologies (NASDAQ:SEDG) Given New $20.00 Price Target at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by research analysts at Roth Mkm from $23.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective indicates a potential upside of 20.26% from the stock’s current price.

SEDG has been the topic of a number of other reports. Barclays decreased their price target on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research note on Friday, October 11th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. Susquehanna reduced their price objective on SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. 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. Finally, DZ Bank cut SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.44.

SolarEdge Technologies Stock Performance

Shares of SEDG stock traded down $0.68 during midday trading on Monday, hitting $16.63. The company had a trading volume of 2,084,170 shares, compared to its average volume of 3,260,354. The company’s 50 day simple moving average is $21.73 and its 200 day simple moving average is $35.65. SolarEdge Technologies has a 52-week low of $16.50 and a 52-week high of $103.15. The stock has a market cap of $952.88 million, a price-to-earnings ratio of -3.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

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). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter last year, the firm earned $2.06 earnings per share. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. Research analysts anticipate that SolarEdge Technologies will post -8.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies in the first quarter worth about $64,000. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the second quarter worth about $28,000. Hexagon Capital Partners LLC boosted its position in shares of SolarEdge Technologies by 120.8% in 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. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of SolarEdge Technologies in the first quarter worth about $236,000. 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.