SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target reduced by Wells Fargo & Company from $19.00 to $15.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the semiconductor company's stock.
A number of other research firms have also weighed in on SEDG. Truist Financial lowered their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a "hold" rating on the stock in a research note on Friday, November 8th. Citigroup reissued a "sell" rating and issued a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Mizuho downgraded shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $35.00 to $11.00 in a report on Thursday, November 7th. Finally, 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, November 7th. Eight analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of "Hold" and an average price target of $21.16.
View Our Latest Analysis on SEDG
SolarEdge Technologies Price Performance
Shares of NASDAQ:SEDG traded down $2.60 during trading on Wednesday, reaching $14.99. The stock had a trading volume of 6,504,721 shares, compared to its average volume of 6,161,288. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $87.98. The stock has a market cap of $868.67 million, a PE ratio of -0.52 and a beta of 1.56. The business has a fifty day moving average price of $14.09 and a 200-day moving average price of $19.92.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its 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). The business 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 quarterly revenue was down 64.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.03) earnings per share. On average, equities analysts forecast that SolarEdge Technologies will post -19.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Chairman More Avery acquired 156,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SEDG. KBC Group NV lifted its position in shares of SolarEdge Technologies by 95.8% during 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 last quarter. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 4,567 shares in the last quarter. US Bancorp DE increased 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 acquiring an additional 4,834 shares during the last quarter. GFG Capital LLC bought a new stake in shares of SolarEdge Technologies in the 3rd quarter valued at approximately $229,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of SolarEdge Technologies in the 3rd quarter worth about $278,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
About SolarEdge Technologies
(
Get Free Report)
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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