UBS Group Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $18.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by UBS Group from $26.00 to $18.00 in a report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other research firms have also issued reports on SEDG. Guggenheim lowered shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 17th. 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, November 7th. Barclays lowered their price target on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a report on Friday, October 11th. William Blair began coverage on SolarEdge Technologies in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.79.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $13.68 on Friday. The business has a fifty day moving average price of $18.91 and a two-hundred day moving average price of $30.22. The stock has a market capitalization of $783.86 million, a PE ratio of -0.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 2.45. SolarEdge Technologies has a fifty-two week low of $12.38 and a fifty-two week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) 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). The company 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%. The firm’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.03) EPS. As a group, equities analysts predict that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Large investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies in the 1st quarter valued at about $64,000. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the second quarter valued at approximately $28,000. KBC Group NV raised 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 period. State Board of Administration of Florida Retirement System bought a new position in shares of SolarEdge Technologies in the 1st quarter worth $236,000. Finally, First Pacific Financial grew its position in SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,805 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.