SolarEdge Technologies (NASDAQ:SEDG) Given New $28.00 Price Target at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price target lowered by investment analysts at BMO Capital Markets from $31.00 to $28.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the semiconductor company’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 15.09% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley lowered their price target on SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Barclays cut their price objective on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen upgraded shares of SolarEdge Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. UBS Group raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $42.00 in a research report on Wednesday, August 26th. Finally, The Goldman Sachs Group dropped their price target on shares of SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $38.53.

SolarEdge Technologies Stock Up 1.9%

SEDG stock traded up $0.62 during midday trading on Wednesday, reaching $32.98. The company had a trading volume of 889,348 shares, compared to its average volume of 3,371,332. The company has a 50 day moving average of $32.90 and a two-hundred day moving average of $44.54. The company has a market capitalization of $2.03 billion, a P/E ratio of -7.33 and a beta of 1.44. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85.

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

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new position in SolarEdge Technologies during the 2nd quarter valued at $31,000. Nykredit A S bought a new stake in SolarEdge Technologies in the 2nd quarter valued at $36,000. Public Employees Retirement System of Ohio acquired a new stake in SolarEdge Technologies in the 2nd quarter worth $72,000. State of Wyoming grew its position in SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 306 shares during the last quarter. Finally, EFG International AG bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth about $123,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.