SolarEdge Technologies' (SEDG) "Underweight" Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have a $9.00 price target on the semiconductor company's stock, down from their previous price target of $23.00.

SEDG has been the topic of several other research reports. Piper Sandler downgraded SolarEdge Technologies from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $17.00 to $9.00 in a report on Thursday, November 7th. Truist Financial cut their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a "hold" rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a "hold" rating on the stock in a report on Friday, August 9th. UBS Group lowered their target price on SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Finally, Barclays lowered their target price on SolarEdge Technologies from $26.00 to $17.00 and set an "underweight" rating for the company in a research note on Friday, October 11th. Ten equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $22.79.

SolarEdge Technologies Trading Down 17.1 %

NASDAQ:SEDG traded down $2.19 on Friday, reaching $10.64. The company's stock had a trading volume of 9,302,260 shares, compared to its average volume of 3,575,058. SolarEdge Technologies has a 12-month low of $10.55 and a 12-month high of $103.15. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The firm has a market cap of $616.59 million, a price-to-earnings ratio of -0.38 and a beta of 1.59. The stock has a 50 day moving average price of $18.37 and a 200 day moving average price of $29.65.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to analysts' expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies's quarterly revenue was down 64.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.03) EPS. On average, equities analysts anticipate that SolarEdge Technologies will post -17.69 EPS for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock worth $13,340,000 after buying an additional 51,065 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of SolarEdge Technologies during the 3rd quarter worth approximately $1,495,000. E. Ohman J or Asset Management AB raised its stake in shares of SolarEdge Technologies by 109.3% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company's stock worth $8,559,000 after buying an additional 195,085 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of SolarEdge Technologies by 56.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company's stock worth $7,093,000 after buying an additional 111,944 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $678,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.