SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $37.00 by Analysts at Royal Bank of Canada

SolarEdge Technologies (NASDAQ:SEDG) had its price target lowered by Royal Bank of Canada from $71.00 to $37.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 37.70% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group decreased their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group reduced their price objective on shares of SolarEdge Technologies from $49.00 to $25.00 and set a “sell” rating for the company in a research report on Thursday, June 27th. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 2nd. Finally, Roth Mkm reduced their price objective on shares of SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $73.19.

SolarEdge Technologies Trading Down 1.8 %

NASDAQ:SEDG opened at $26.87 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The firm has a 50-day moving average of $43.11 and a 200-day moving average of $61.58. The company has a market cap of $1.54 billion, a PE ratio of -5.78 and a beta of 1.52. SolarEdge Technologies has a one year low of $23.51 and a one year high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The business had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. As a group, equities research analysts expect that SolarEdge Technologies will post -6.52 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC purchased a new stake in SolarEdge Technologies in the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its stake in SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 640 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies in the 1st quarter worth approximately $64,000. Finally, Compagnie Lombard Odier SCmA lifted its stake in SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other 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.