SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $23.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target decreased by Morgan Stanley from $28.00 to $23.00 in a research note published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company's stock.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on SolarEdge Technologies from $40.00 to $25.00 and set a hold rating on the stock in a report on Friday, August 9th. Bank of America dropped their price objective on SolarEdge Technologies from $31.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Piper Sandler dropped their price objective on SolarEdge Technologies from $29.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. William Blair started coverage on SolarEdge Technologies in a research note on Thursday, August 29th. They set a market perform rating on the stock. Finally, TD Cowen dropped their price objective on SolarEdge Technologies from $50.00 to $35.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Five analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $48.65.

SolarEdge Technologies Trading Down 9.1 %

Shares of SEDG stock traded down $1.86 during trading hours on Tuesday, hitting $18.56. 4,653,724 shares of the company were exchanged, compared to its average volume of 3,264,277. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $130.38. The company has a 50 day simple moving average of $22.89 and a two-hundred day simple moving average of $38.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm has a market cap of $1.06 billion, a P/E ratio of -3.99 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The firm had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. During the same quarter in the prior year, the business earned $2.06 earnings per share. SolarEdge Technologies's revenue for the quarter was down 73.2% on a year-over-year basis. Equities analysts anticipate that SolarEdge Technologies will post -8.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its holdings in SolarEdge Technologies by 2.7% during the 1st quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company's stock valued at $726,000 after buying an additional 270 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of SolarEdge Technologies by 90.0% during the 1st 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 last quarter. Royal London Asset Management Ltd. boosted its position in shares of SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company's stock valued at $2,047,000 after acquiring an additional 378 shares during the last quarter. Trillium Asset Management LLC boosted its position in shares of SolarEdge Technologies by 1.6% during the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company's stock valued at $1,960,000 after acquiring an additional 427 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. boosted its position in shares of SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company's stock valued at $294,000 after acquiring an additional 564 shares during the last quarter. Hedge funds and other 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.