SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $11.00 by Analysts at TD Cowen

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target trimmed by TD Cowen from $16.00 to $11.00 in a research note released on Thursday, MarketBeat.com reports. The brokerage currently has a hold rating on the semiconductor company's stock.

A number of other research firms have also recently issued reports on SEDG. Canaccord Genuity Group decreased their target price on SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. DZ Bank lowered SolarEdge Technologies from a "hold" rating to a "sell" rating and set a $24.00 price objective for the company. in a research report on Wednesday, July 17th. Bank of America downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $21.00 to $14.00 in a report on Thursday. Mizuho reduced their price target on shares of SolarEdge Technologies from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a "hold" rating for the company in a report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.26.

SolarEdge Technologies Trading Up 1.4 %

SolarEdge Technologies stock traded up $0.21 during midday trading on Thursday, hitting $14.88. 18,841,579 shares of the stock were exchanged, compared to its average volume of 3,452,642. The stock has a market capitalization of $852.62 million, a PE ratio of -1.63 and a beta of 1.59. The company has a fifty day simple moving average of $19.54 and a two-hundred day simple moving average of $31.29. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a 52 week low of $12.38 and a 52 week high of $103.15.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings 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 acquiring an additional 6,576 shares during the period. Texas Permanent School Fund Corp lifted its holdings in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company's stock worth $3,525,000 after purchasing an additional 585 shares during the last quarter. Swiss National Bank boosted its stake in SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company's stock valued at $7,957,000 after purchasing an additional 600 shares during the period. ProShare Advisors LLC grew its holdings in SolarEdge Technologies by 24.9% in the 1st quarter. ProShare Advisors LLC now owns 10,030 shares of the semiconductor company's stock valued at $712,000 after buying an additional 1,997 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in SolarEdge Technologies during the 1st quarter worth $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.