SolarEdge Technologies (NASDAQ:SEDG) Rating Lowered to “Sell” at Wall Street Zen

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Monday, Wall Street Zen reports.

A number of other brokerages have also weighed in on SEDG. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday, October 21st. Royal Bank Of Canada dropped their target price on shares of SolarEdge Technologies from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Friday, November 6th. Citigroup reduced their target price on shares of SolarEdge Technologies from $30.00 to $24.00 and set a “sell” rating on the stock in a research report on Thursday, November 5th. Susquehanna reduced their target price on shares of SolarEdge Technologies from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. Finally, Morgan Stanley decreased their price target on shares of 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. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $36.93.

SolarEdge Technologies Stock Performance

SEDG stock opened at $25.86 on Monday. SolarEdge Technologies has a twelve month low of $25.25 and a twelve month high of $81.25. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -6.81 and a beta of 1.31. The business’s fifty day simple moving average is $32.45 and its two-hundred day simple moving average is $42.04. The company has a quick ratio of 1.40, a current ratio of 2.12 and a debt-to-equity ratio of 0.83.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.25. The firm had revenue of $325.40 million during the quarter, compared to analyst estimates of $326.78 million. SolarEdge Technologies had a negative net margin of 17.34% and a negative return on equity of 19.80%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) earnings per share. Analysts predict that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming grew its holdings in SolarEdge Technologies by 32.9% during the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 306 shares in the last quarter. Farther Finance Advisors LLC increased its position in SolarEdge Technologies by 18.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 479 shares during the period. Allworth Financial LP bought a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $31,000. Nykredit A S bought a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $36,000. Finally, Swiss National Bank raised its holdings in shares of SolarEdge Technologies by 0.9% in the 1st quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company’s stock valued at $6,034,000 after purchasing an additional 1,100 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies develops smart energy technologies for residential, commercial and utility-scale applications. Founded in 2006, the company is known for its DC-optimized inverter system, which combines power optimizers with inverters to help manage solar energy production at the panel level. Its product portfolio includes solar inverters and power optimizers, energy storage systems, monitoring and energy-management software, electric-vehicle charging equipment and related services. These offerings are designed to support the generation, storage and use of electricity from solar and other energy sources.