SolarEdge Technologies, Inc. (SEDG) – What Are Brokerages Thinking About This Stock?

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned a consensus recommendation of “Reduce” from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.33.

A number of equities research analysts have commented on SEDG shares. The Goldman Sachs Group reduced their target price on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company began coverage on SolarEdge Technologies in a research note on Monday, June 29th. They issued an “equal weight” rating and a $36.00 price target on the stock. Wall Street Zen upgraded SolarEdge Technologies from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. UBS Group raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a research report on Wednesday, August 26th. Finally, Susquehanna cut their price objective on SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th.

SolarEdge Technologies Stock Down 1.0%

SEDG stock opened at $31.06 on Tuesday. The firm has a market cap of $1.91 billion, a PE ratio of -6.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. The firm’s 50 day moving average price is $32.92 and its 200-day moving average price is $44.68. SolarEdge Technologies has a one year low of $28.21 and a one year high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $341.15 million. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.81) earnings per share. On average, equities research analysts anticipate that SolarEdge Technologies will post -1.20 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of SolarEdge Technologies in the 2nd quarter worth approximately $55,514,000. Bank of America Corp DE boosted its position in shares of SolarEdge Technologies by 218.6% during the 1st quarter. Bank of America Corp DE now owns 404,297 shares of the semiconductor company’s stock worth $20,639,000 after purchasing an additional 277,385 shares during the period. Legal & General Group Plc acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at approximately $76,095,000. Handelsbanken Fonder AB increased its holdings in SolarEdge Technologies by 16.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,230,401 shares of the semiconductor company’s stock valued at $71,905,000 after purchasing an additional 175,281 shares during the last quarter. Finally, Man Group plc acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at approximately $6,540,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.