SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $25.00 at Royal Bank of Canada

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by Royal Bank of Canada from $35.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a sector perform rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on SEDG. Scotiabank dropped their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price target for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. BMO Capital Markets lowered their price target on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, William Blair began coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and an average price target of $39.35.

SolarEdge Technologies Trading Down 3.5 %

Shares of SEDG stock opened at $17.31 on Tuesday. SolarEdge Technologies has a 1 year low of $16.91 and a 1 year high of $120.74. The firm’s fifty day simple moving average is $21.73 and its 200 day simple moving average is $35.87. The firm has a market capitalization of $991.86 million, a P/E ratio of -1.93 and a beta of 1.56. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period last year, the firm posted $2.06 EPS. The company’s revenue was down 73.2% compared to the same quarter last year. As a group, sell-side analysts predict that SolarEdge Technologies will post -8.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in SolarEdge Technologies during the 1st quarter worth about $261,312,000. Vanguard Group Inc. raised its holdings in SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after purchasing an additional 62,942 shares during the last quarter. Quarry LP bought a new stake in SolarEdge Technologies during the 2nd quarter worth about $36,627,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in SolarEdge Technologies by 0.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after purchasing an additional 2,795 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in SolarEdge Technologies by 425.1% during the 2nd 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 last quarter. Institutional investors and hedge funds 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.