SolarEdge Technologies (NASDAQ:SEDG) Rating Lowered to Neutral at Mizuho

Mizuho downgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from an outperform rating to a neutral rating in a research report report published on Thursday morning, MarketBeat reports. The brokerage currently has $11.00 price objective on the semiconductor company's stock, down from their previous price objective of $35.00.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Citigroup lowered their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Scotiabank lowered their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a "sector perform" rating for the company in a research report on Thursday, August 8th. TD Cowen lowered their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group lowered 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 report on Tuesday, September 17th. Nine research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $24.26.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock traded up $0.20 during mid-day trading on Thursday, reaching $14.88. 18,839,004 shares of the stock traded hands, compared to its average volume of 3,452,642. SolarEdge Technologies has a fifty-two week low of $12.38 and a fifty-two week high of $103.15. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $852.62 million, a PE ratio of -1.63 and a beta of 1.59. The business has a 50-day moving average of $19.54 and a 200 day moving average of $31.29.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same period in the prior year, the business posted $2.06 EPS. SolarEdge Technologies's revenue for the quarter was down 73.2% compared to the same quarter last year. On average, analysts predict that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Trading of SolarEdge Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SEDG. GSA Capital Partners LLP increased its position in shares of SolarEdge Technologies by 113.3% during the first quarter. GSA Capital Partners LLP now owns 12,379 shares of the semiconductor company's stock worth $879,000 after purchasing an additional 6,576 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of SolarEdge Technologies by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company's stock worth $3,525,000 after buying an additional 585 shares during the last quarter. Swiss National Bank grew its holdings in shares of SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company's stock worth $7,957,000 after buying an additional 600 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of SolarEdge Technologies by 24.9% during the first quarter. ProShare Advisors LLC now owns 10,030 shares of the semiconductor company's stock worth $712,000 after buying an additional 1,997 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of SolarEdge Technologies during the first quarter worth about $236,000. Institutional investors and hedge funds 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.