SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $12.00 by Analysts at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price target trimmed by BMO Capital Markets from $21.00 to $12.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on SEDG. Morgan Stanley decreased their target price on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Susquehanna decreased their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 9th. Royal Bank of Canada decreased their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Finally, Piper Sandler cut SolarEdge Technologies from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $17.00 to $9.00 in a report on Thursday. Nine 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. According to data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $23.79.

SolarEdge Technologies Trading Down 9.1 %

NASDAQ SEDG opened at $13.53 on Thursday. SolarEdge Technologies has a 12 month low of $12.38 and a 12 month high of $103.15. The company has a 50-day moving average of $19.12 and a 200-day moving average of $30.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 2.45. The company has a market cap of $775.27 million, a P/E ratio of -0.47 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. During the same period in the prior year, the company earned ($1.03) EPS. The company’s revenue was down 64.0% compared to the same quarter last year. As a group, equities analysts predict that SolarEdge Technologies will post -8.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Swedbank AB bought a new position in SolarEdge Technologies during the first quarter valued at about $261,312,000. Vanguard Group Inc. boosted its stake in SolarEdge Technologies by 2.8% during the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after buying an additional 62,942 shares in the last quarter. Quarry LP bought a new position in SolarEdge Technologies during the second quarter valued at about $36,627,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after buying an additional 2,795 shares in the last quarter. Finally, M&G PLC boosted its stake in SolarEdge Technologies by 4.2% during the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock valued at $21,452,000 after buying an additional 38,001 shares in the last quarter. 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.