SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Mizuho to Neutral

Mizuho lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from an outperform rating to a neutral rating in a report issued on Thursday morning, MarketBeat Ratings reports. The firm currently has $11.00 price target on the semiconductor company’s stock, down from their prior price target of $35.00.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets cut their price objective on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price objective on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $27.00 to $17.00 in a report on Tuesday, September 17th. DZ Bank cut SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a research note on Wednesday, July 17th. Finally, Truist Financial reaffirmed a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Nine investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.79.

SolarEdge Technologies Trading Down 9.1 %

NASDAQ:SEDG opened at $13.53 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The business’s 50-day simple moving average is $19.12 and its 200-day simple moving average is $30.71. SolarEdge Technologies has a fifty-two week low of $12.38 and a fifty-two week high of $103.15. The stock has a market capitalization of $775.26 million, a PE ratio of -0.47 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) 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). The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 56.32%. The business’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 EPS. Sell-side analysts expect that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of SEDG. Swedbank AB bought a new position in SolarEdge Technologies in the 1st quarter valued at about $261,312,000. Quarry LP acquired a new position in shares of SolarEdge Technologies in the second quarter valued at approximately $36,627,000. Marshall Wace LLP increased its stake in shares of SolarEdge Technologies by 425.1% during the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after purchasing an additional 450,081 shares during the period. Quadrature Capital Ltd lifted its holdings in SolarEdge Technologies by 1,206.8% during the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock worth $17,080,000 after purchasing an additional 222,218 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in SolarEdge Technologies by 683.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares during the period. 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.