SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) reached a new 52-week low during trading on Thursday after BMO Capital Markets lowered their price target on the stock from $21.00 to $12.00. BMO Capital Markets currently has a market perform rating on the stock. SolarEdge Technologies traded as low as $12.38 and last traded at $13.35, with a volume of 2649123 shares trading hands. The stock had previously closed at $14.68.
A number of other equities analysts also recently commented on SEDG. DZ Bank downgraded shares of SolarEdge Technologies from a "hold" rating to a "sell" rating and set a $24.00 price objective for the company. in a research note on Wednesday, July 17th. Glj Research downgraded SolarEdge Technologies from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, October 8th. Citigroup lowered their price target on SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. TD Cowen cut their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating for the company in a report on Thursday. Finally, Barclays lowered their target price on shares of SolarEdge Technologies from $26.00 to $17.00 and set an "underweight" rating on the stock in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and an average target price of $24.26.
Get Our Latest Report on SEDG
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies during the 1st quarter worth $64,000. KBC Group NV increased its position in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial raised its stake in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company's stock valued at $132,000 after purchasing an additional 1,805 shares in the last quarter. Finally, US Bancorp DE lifted its position in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after purchasing an additional 4,834 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.
SolarEdge Technologies Price Performance
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 price-to-earnings ratio of -1.63 and a beta of 1.59. The business's 50 day simple moving average is $19.54 and its 200-day simple moving average is $31.29.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business's revenue was down 73.2% compared to the same quarter last year. During the same period last year, the business earned $2.06 earnings per share. On average, research analysts forecast that SolarEdge Technologies, Inc. will post -8.85 earnings per share for the current year.
About SolarEdge Technologies
(
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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.
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