SolarEdge Technologies (NASDAQ:SEDG) Given New $7.00 Price Target at Barclays

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target dropped by analysts at Barclays from $17.00 to $7.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "underperform" rating on the semiconductor company's stock. Barclays's target price suggests a potential downside of 34.21% from the company's previous close.

A number of other analysts also recently issued reports on SEDG. Piper Sandler downgraded SolarEdge Technologies from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $17.00 to $9.00 in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SolarEdge Technologies from $40.00 to $25.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $19.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, November 7th. Scotiabank decreased their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.79.

SolarEdge Technologies Price Performance

SEDG stock traded down $2.19 during midday trading on Friday, hitting $10.64. The company's stock had a trading volume of 9,412,095 shares, compared to its average volume of 3,575,298. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a 12 month low of $10.55 and a 12 month high of $103.15. The company has a 50 day moving average of $18.19 and a two-hundred day moving average of $29.11. The firm has a market capitalization of $616.59 million, a price-to-earnings ratio of -0.37 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate 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 revenue was down 64.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.03) EPS. On average, analysts expect that SolarEdge Technologies will post -17.69 EPS for the current year.

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 bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $28,000. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies during the 1st quarter valued at $64,000. KBC Group NV lifted its holdings in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. First Pacific Financial boosted its position in shares of SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company's stock worth $132,000 after purchasing an additional 1,805 shares in the last quarter. Finally, US Bancorp DE grew its stake in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after buying an additional 4,834 shares during the last quarter. Institutional investors own 95.10% of the company's stock.

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.