SolarEdge Technologies (NASDAQ:SEDG) Upgraded at Barclays

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by research analysts at Barclays from an "underweight" rating to an "equal weight" rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $29.00 price target on the semiconductor company's stock, up from their previous price target of $12.00. Barclays's price objective would suggest a potential upside of 12.50% from the company's current price.

SEDG has been the topic of several other research reports. Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 23rd. Glj Research cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective on the stock. in a report on Tuesday, June 17th. KeyCorp upgraded SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, UBS Group lifted their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Eleven research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.61.

SolarEdge Technologies Trading Up 3.3%

SEDG traded up $0.82 during midday trading on Monday, reaching $25.78. 2,074,252 shares of the company were exchanged, compared to its average volume of 4,687,039. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. SolarEdge Technologies has a one year low of $10.24 and a one year high of $31.07. The stock has a market capitalization of $1.52 billion, a P/E ratio of -0.86 and a beta of 1.62. The stock's 50-day simple moving average is $20.50 and its 200 day simple moving average is $16.76.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm had revenue of $219.48 million for the quarter, compared to analysts' expectations of $205.39 million. During the same quarter last year, the business earned ($1.90) earnings per share. The company's revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in SEDG. State of Alaska Department of Revenue lifted its holdings in shares of SolarEdge Technologies by 9.5% in the second quarter. State of Alaska Department of Revenue now owns 35,145 shares of the semiconductor company's stock valued at $716,000 after purchasing an additional 3,035 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of SolarEdge Technologies by 21.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock valued at $59,000 after purchasing an additional 508 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of SolarEdge Technologies in the second quarter valued at approximately $204,000. Bayforest Capital Ltd lifted its holdings in shares of SolarEdge Technologies by 367.3% in the first quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock valued at $923,000 after purchasing an additional 44,831 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in shares of SolarEdge Technologies in the first quarter valued at approximately $4,164,000. Institutional investors and hedge funds own 95.10% of the company's stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.