SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded SolarEdge from “hold” to “sell.” Analyst views remain mixed: two rate it Buy, 11 Hold and five Sell, with a consensus “Reduce” rating and average price target of $36.93.
• SolarEdge reported quarterly EPS of $0.29, beating the $0.04 estimate, but revenue of $325.4 million fell slightly short of forecasts and declined 4.2% year over year. The company also posted a negative net margin and return on equity.
• Several firms recently cut their price targets, including Citigroup to $24 and Goldman Sachs and RBC to $25. Shares opened at $27.51, near their 52-week low of $25.25.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was downgraded by 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.

Several other research firms have also recently commented on SEDG. UBS Group upgraded 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. Citigroup decreased their target price on SolarEdge Technologies from $30.00 to $24.00 and set a "sell" rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price target on SolarEdge Technologies from $29.00 to $25.00 and set a "sell" rating on the stock in a report on Thursday. JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $38.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada cut their price objective on SolarEdge Technologies from $30.00 to $25.00 and set a "sector perform" rating for the company in a report on Friday. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of "Reduce" and a consensus price target of $36.93.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $27.51 on Monday. SolarEdge Technologies has a 1 year low of $25.25 and a 1 year high of $81.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.12 and a quick ratio of 1.40. The stock has a market capitalization of $1.69 billion, a PE ratio of -7.24 and a beta of 1.31. The company's 50 day simple moving average is $32.65 and its two-hundred day simple moving average is $42.12.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.04 by $0.25. The firm had revenue of $325.40 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) EPS. Analysts predict that SolarEdge Technologies will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

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

More SolarEdge Technologies News

Here are the key news stories impacting SolarEdge Technologies this week:

• Positive Sentiment: SolarEdge’s quarterly earnings per share beat consensus expectations, helping drive unusually high trading volume. Revenue came in slightly below estimates, tempering the positive result. SolarEdge sees unusually high trading volume on better-than-expected earnings
• Neutral Sentiment: Susquehanna lowered its target from $32 to $31 but maintained a neutral rating; JPMorgan also kept a neutral rating while cutting its target from $38 to $31. Both targets remain above the reference share price. Susquehanna sets new price target
• Negative Sentiment: Royal Bank of Canada cut its target from $30 to $25 and rated the shares sector perform. Citigroup lowered its target from $30 to $24 with a sell rating, while Goldman Sachs cut its target from $29 to $25 and also rated the stock sell. These calls point to limited upside or potential downside. Royal Bank of Canada recommendations
• Negative Sentiment: Weak demand is seen as clouding SolarEdge’s recovery, adding to concerns that a rebound may take longer than hoped. SolarEdge: Weak Demand Clouds The Recovery

SolarEdge Technologies Company Profile

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.

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