Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $22.79

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been given an average rating of "Reduce" by the twenty-nine research firms that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.79.

A number of analysts have recently commented on SEDG shares. Glj Research cut shares of SolarEdge Technologies from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, October 8th. Morgan Stanley reaffirmed an "underweight" rating and set a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday. 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. StockNews.com raised shares of SolarEdge Technologies to a "sell" rating in a research note on Friday, November 8th. Finally, Mizuho cut shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $35.00 to $11.00 in a research note on Thursday, November 7th.

Insider Activity

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares of the company's stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in shares of SolarEdge Technologies in the 1st quarter valued at $64,000. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies in the 2nd quarter valued at $28,000. KBC Group NV grew its position in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after buying an additional 1,378 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in SolarEdge Technologies during the 1st quarter worth $236,000. Finally, First Pacific Financial grew its position in SolarEdge Technologies by 53.0% during 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 during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Down 3.6 %

Shares of SolarEdge Technologies stock traded down $0.39 during trading hours on Tuesday, reaching $10.46. The stock had a trading volume of 4,010,854 shares, compared to its average volume of 3,582,364. The stock's 50 day moving average is $18.05 and its 200 day moving average is $28.56. SolarEdge Technologies has a twelve month low of $10.26 and a twelve month high of $103.15. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its 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 company had revenue of $260.90 million for the quarter, compared to analysts' expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm's revenue for the quarter 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 expect that SolarEdge Technologies will post -17.69 EPS 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.