SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, Barclays Analyst Says

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective increased by equities researchers at Barclays from $7.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the semiconductor company's stock. Barclays's price objective would suggest a potential downside of 29.82% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company cut their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on SolarEdge Technologies from $35.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley reaffirmed an "underweight" rating and issued a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a report on Friday, November 15th. Finally, StockNews.com raised SolarEdge Technologies to a "sell" rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.28.

SolarEdge Technologies Stock Down 1.5 %

SEDG traded down $0.21 during midday trading on Tuesday, hitting $14.25. 3,533,337 shares of the company's stock traded hands, compared to its average volume of 5,383,225. 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 company has a market cap of $825.79 million, a PE ratio of -0.49 and a beta of 1.56. SolarEdge Technologies has a one year low of $10.24 and a one year high of $87.98. The stock's fifty day simple moving average is $13.92 and its 200-day simple moving average is $19.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts' consensus estimates of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies's quarterly revenue was down 64.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.03) EPS. As a group, equities analysts anticipate that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank Hapoalim BM lifted its stake in shares of SolarEdge Technologies by 2.5% during the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company's stock worth $769,000 after buying an additional 812 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in SolarEdge Technologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company's stock worth $534,000 after acquiring an additional 1,175 shares during the last quarter. KBC Group NV boosted its holdings in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 1,378 shares during the period. ProShare Advisors LLC grew its position in shares of SolarEdge Technologies by 15.6% in the second quarter. ProShare Advisors LLC now owns 11,599 shares of the semiconductor company's stock valued at $293,000 after purchasing an additional 1,569 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in shares of SolarEdge Technologies by 10.5% during the second quarter. Ensign Peak Advisors Inc now owns 18,491 shares of the semiconductor company's stock worth $467,000 after purchasing an additional 1,750 shares during the period. 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.