SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the twenty-nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.04.

SEDG has been the topic of several research analyst reports. William Blair started coverage on SolarEdge Technologies in a research note on Thursday, August 29th. They set a "market perform" rating on the stock. BMO Capital Markets cut their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating on the stock in a report on Thursday, November 7th. Mizuho cut shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Morgan Stanley restated an "underweight" rating and set a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Finally, Jefferies Financial Group downgraded shares of SolarEdge Technologies from a "hold" rating to an "underperform" rating and lowered their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were acquired 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 approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $36,627,000. Two Sigma Advisers LP raised its stake in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock valued at $26,166,000 after purchasing an additional 3,400 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in SolarEdge Technologies by 0.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company's stock valued at $25,531,000 after purchasing an additional 2,795 shares in the last quarter. M&G PLC boosted its stake in SolarEdge Technologies by 4.2% during the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock worth $21,452,000 after purchasing an additional 38,001 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock worth $16,227,000 after purchasing an additional 25,474 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 0.5 %

SolarEdge Technologies stock traded up $0.07 during trading hours on Friday, reaching $13.35. The stock had a trading volume of 2,746,821 shares, compared to its average volume of 3,649,662. The company has a market cap of $773.63 million, a price-to-earnings ratio of -0.46 and a beta of 1.56. The business's 50 day moving average price is $15.24 and its 200-day moving average price is $23.59. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $103.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted 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). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million for the quarter, compared to analysts' expectations of $272.80 million. During the same period in the previous year, the company earned ($1.03) EPS. The company's revenue was down 64.0% on a year-over-year basis. Sell-side analysts anticipate that SolarEdge Technologies will post -19.18 EPS for the current year.

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.