SolarEdge Technologies (NASDAQ:SEDG) Lowered to Neutral at Susquehanna

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was downgraded by analysts at Susquehanna from a "positive" rating to a "neutral" rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $56.00 target price on the semiconductor company's stock, down from their previous target price of $92.00. Susquehanna's target price suggests a potential upside of 7.26% from the company's current price.

Several other equities research analysts have also recently issued reports on SEDG. Truist Financial lowered their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group lowered their target price on shares of SolarEdge Technologies from $64.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday. Scotiabank lowered their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $74.00 to $71.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, DZ Bank started coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They set a "hold" rating and a $62.00 target price on the stock. Four research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $87.12.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded up $2.74 during trading on Monday, reaching $52.21. The company had a trading volume of 3,319,959 shares, compared to its average volume of 2,413,893. The firm's 50-day simple moving average is $63.94 and its 200 day simple moving average is $73.48. SolarEdge Technologies has a 1-year low of $48.82 and a 1-year high of $313.55. The firm has a market capitalization of $2.99 billion, a PE ratio of -11.38 and a beta of 1.53. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The firm had revenue of $316.04 million for the quarter, compared to analysts' expectations of $319.97 million. As a group, equities research analysts anticipate that SolarEdge Technologies will post -4.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company's stock, valued at $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.17% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SEDG. NBC Securities Inc. acquired a new position in shares of SolarEdge Technologies during the third quarter worth about $25,000. Manchester Capital Management LLC grew its position in shares of SolarEdge Technologies by 1,345.0% during the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company's stock worth $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 640 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

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.