SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $14.00 by Analysts at Truist Financial

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its target price reduced by Truist Financial from $15.00 to $14.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the semiconductor company's stock.

SEDG has been the topic of a number of other reports. Royal Bank of Canada lowered their price target on SolarEdge Technologies from $35.00 to $25.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 15th. Guggenheim upgraded shares of SolarEdge Technologies from a "sell" rating to a "neutral" rating in a research note on Wednesday, November 20th. UBS Group decreased their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, Bank of America lowered SolarEdge Technologies from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and a consensus price target of $21.24.

SolarEdge Technologies Stock Down 2.0 %

SEDG stock traded down $0.29 during trading on Thursday, hitting $14.21. 2,835,346 shares of the stock traded hands, compared to its average volume of 4,878,093. The stock has a market cap of $823.47 million, a price-to-earnings ratio of -0.49 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $87.98. The firm's 50 day moving average is $13.82 and its two-hundred day moving average is $19.48.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts' consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million for the quarter, compared to analysts' expectations of $272.80 million. During the same quarter in the previous year, the company earned ($1.03) EPS. The company's quarterly revenue was down 64.0% compared to the same quarter last year. On average, sell-side analysts anticipate that SolarEdge Technologies will post -23.2 EPS for the current year.

Insider Activity

In other news, Chairman More Avery acquired 156,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares of the company's stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SEDG. KBC Group NV boosted its position in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 1,378 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after buying an additional 4,567 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock valued at $156,000 after buying an additional 4,834 shares in the last quarter. GFG Capital LLC purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth approximately $229,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth approximately $278,000. Institutional investors own 95.10% of the company's stock.

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.