SolarEdge Technologies’ (SEDG) Sell Rating Reaffirmed at Glj Research

SolarEdge Technologies (NASDAQ:SEDG)‘s stock had its “sell” rating restated by equities research analysts at Glj Research in a research note issued on Friday,Benzinga reports. They currently have a $3.90 price target on the semiconductor company’s stock. Glj Research’s price objective would suggest a potential downside of 75.36% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Scotiabank cut their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, November 7th. Finally, TD Cowen cut their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.04.

SolarEdge Technologies Price Performance

Shares of SEDG stock traded up $0.97 during trading hours on Friday, reaching $15.83. The company had a trading volume of 1,820,280 shares, compared to its average volume of 3,629,837. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $103.15. The company has a market capitalization of $917.35 million, a price-to-earnings ratio of -0.55 and a beta of 1.59. The stock has a fifty day moving average of $16.82 and a 200-day moving average of $26.51. 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 (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter in the prior year, the business earned ($1.03) earnings per share. The company’s quarterly revenue was down 64.0% on a year-over-year basis. On average, equities analysts anticipate that SolarEdge Technologies will post -19.05 earnings per share for the current year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies during the second quarter worth about $28,000. KBC Group NV raised its stake 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 valued at $65,000 after acquiring an additional 1,378 shares during the last quarter. First Pacific Financial lifted its holdings in SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,805 shares during the period. US Bancorp DE raised its stake in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after buying an additional 4,834 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of SolarEdge Technologies during the third quarter valued at approximately $229,000. Hedge funds and other institutional investors 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.