SolarEdge Technologies (NASDAQ:SEDG) Given "Sell" Rating at Glj Research

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "sell" rating reaffirmed by Glj Research in a report issued on Friday,Benzinga reports. They presently have a $3.90 price objective on the semiconductor company's stock. Glj Research's price target would indicate a potential downside of 75.32% from the company's previous close.

Several other research firms have also recently weighed in on SEDG. Canaccord Genuity Group lowered their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an "underperform" rating on the stock in a research report on Friday, November 15th. Mizuho downgraded shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $35.00 to $11.00 in a report on Thursday, November 7th. Susquehanna lowered their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Finally, TD Cowen cut their price target on SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating for the company in a research note on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus target price of $22.04.

SolarEdge Technologies Stock Performance

Shares of SEDG stock traded up $0.94 during trading on Friday, reaching $15.80. 3,093,049 shares of the company's stock were exchanged, compared to its average volume of 3,635,925. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $103.15. The firm's fifty day moving average price is $16.73 and its 200-day moving average price is $26.26. 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 stock has a market capitalization of $915.61 million, a PE ratio of -0.54 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.03) earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -19.05 EPS for the current year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AMG National Trust Bank acquired a new position in shares of SolarEdge Technologies in the 3rd quarter worth approximately $4,055,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company's stock valued at $5,786,000 after buying an additional 220,304 shares during the period. Mizuho Markets Americas LLC boosted its position in SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company's stock valued at $4,315,000 after acquiring an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in 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 acquiring an additional 51,065 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of SolarEdge Technologies in the 3rd quarter worth about $1,495,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.