SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded SolarEdge Technologies from “sell” to “hold,” while the broader analyst consensus remains “Reduce,” with an average price target of $38.53.
• SolarEdge shares opened at $30.05, near their 52-week low of $28.11 and well below the 52-week high of $81.25. Analysts expect the company to post a $1.21 loss per share for the current fiscal year.
• The company exceeded quarterly expectations, reporting $0.05 in EPS versus a projected loss of $0.02 and revenue of $346.2 million, up 19.6% year over year; institutional investors own 95.1% of its stock.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

A number of other research analysts have also recently commented on SEDG. Morgan Stanley cut their price target on shares of SolarEdge Technologies from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Friday, September 11th. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, October 19th. BMO Capital Markets lowered their price objective on shares of SolarEdge Technologies from $31.00 to $28.00 and set an "underperform" rating for the company in a research report on Wednesday, October 21st. Mizuho upped their target price on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, September 11th. Finally, UBS Group upgraded shares of SolarEdge Technologies from a "neutral" rating to a "buy" rating and upped their target price for the stock from $36.00 to $42.00 in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $38.53.

SolarEdge Technologies Stock Down 1.6%

Shares of NASDAQ:SEDG opened at $30.05 on Friday. SolarEdge Technologies has a 52-week low of $28.11 and a 52-week high of $81.25. 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 stock has a 50 day moving average price of $32.87 and a 200-day moving average price of $42.23. The firm has a market capitalization of $1.85 billion, a P/E ratio of -6.68 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. During the same quarter in the prior year, the company posted ($0.81) EPS. SolarEdge Technologies's quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts anticipate that SolarEdge Technologies will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allworth Financial LP acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at $31,000. Nykredit A S purchased a new position in SolarEdge Technologies in the 2nd quarter worth $36,000. Public Employees Retirement System of Ohio acquired a new stake in SolarEdge Technologies during the 2nd quarter worth about $72,000. State of Wyoming lifted its position 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 during the period. Finally, EFG International AG acquired a new stake in SolarEdge Technologies during the 2nd quarter worth about $123,000. Institutional investors own 95.10% of the company's stock.

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.

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