The Goldman Sachs Group Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $10.00

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target lowered by The Goldman Sachs Group from $19.00 to $10.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a sell rating on the semiconductor company's stock.

SEDG has been the topic of several other research reports. Barclays reduced their target price on shares of SolarEdge Technologies from $26.00 to $17.00 and set an "underweight" rating on the stock in a research note on Friday, October 11th. TD Cowen reduced their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating on the stock in a research report on Thursday. William Blair initiated coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They set a "market perform" rating for the company. Roth Mkm reduced their target price on SolarEdge Technologies from $20.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Citigroup dropped their price target on SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Nine equities 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $24.26.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded up $0.21 on Thursday, reaching $14.88. The company's stock had a trading volume of 18,841,579 shares, compared to its average volume of 3,452,642. SolarEdge Technologies has a 52 week low of $12.38 and a 52 week high of $103.15. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The firm has a market cap of $852.62 million, a PE ratio of -1.66 and a beta of 1.59. The business has a 50-day moving average price of $19.34 and a 200 day moving average price of $31.18.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its 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 return on equity of 18.00% and a negative net margin of 33.86%. The company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same quarter last year, the business earned $2.06 EPS. SolarEdge Technologies's quarterly revenue was down 73.2% compared to the same quarter last year. Sell-side analysts expect that SolarEdge Technologies will post -8.85 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP raised its stake in SolarEdge Technologies by 113.3% during the 1st quarter. GSA Capital Partners LLP now owns 12,379 shares of the semiconductor company's stock worth $879,000 after buying an additional 6,576 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of 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 valued at $3,525,000 after purchasing an additional 585 shares in the last quarter. Swiss National Bank grew its position in shares of 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 increased its stake in SolarEdge Technologies by 24.9% during the 1st quarter. ProShare Advisors LLC now owns 10,030 shares of the semiconductor company's stock worth $712,000 after purchasing an additional 1,997 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in SolarEdge Technologies during the 1st quarter worth approximately $236,000. 95.10% of the stock is owned by 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.