SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 5.5% - What's Next?

Key Points

• SolarEdge shares fell 5.5% to about $34.02 in Friday trading, with volume roughly 83% below the average session. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is cautious: the consensus rating is “Reduce”, with 11 Holds and 5 Sells versus 2 Buys, and an average price target of $39.00. Recent targets ranged from $33 to $44.
• SolarEdge exceeded quarterly earnings and revenue estimates, reporting $0.05 EPS and $346.2 million in revenue, but it remains unprofitable with a negative net margin of 20.29%; institutional investors own 95.1% of the stock.

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) was down 5.5% during trading on Friday . The stock traded as low as $34.17 and last traded at $34.0220. Approximately 582,723 shares were traded during trading, a decline of 83% from the average session volume of 3,463,579 shares. The stock had previously closed at $36.00.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SEDG. Morgan Stanley reduced their price objective 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. lifted their price target on SolarEdge Technologies from $37.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, September 11th. Barclays lowered their price objective on SolarEdge Technologies from $53.00 to $37.00 and set an "equal weight" rating for the company in a research report on Thursday, August 6th. UBS Group raised SolarEdge Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $36.00 to $42.00 in a research report on Wednesday, August 26th. Finally, Susquehanna decreased their target price on SolarEdge Technologies from $56.00 to $38.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $39.00.

SolarEdge Technologies Stock Down 5.7%

The firm's 50 day moving average price is $38.31 and its two-hundred day moving average price is $46.23. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -7.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.07. The business had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%.The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.81) earnings per share. As a group, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in SolarEdge Technologies during the 2nd quarter worth approximately $31,000. Nykredit A S acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $36,000. Public Employees Retirement System of Ohio purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at approximately $72,000. State of Wyoming boosted its stake in shares of SolarEdge Technologies by 32.9% in the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company's stock valued at $63,000 after buying an additional 306 shares in the last quarter. Finally, EFG International AG acquired a new position in SolarEdge Technologies during the second quarter worth $123,000. Institutional investors and hedge funds own 95.10% of the company's stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc develops smart energy technology for solar power generation, energy storage and energy management. The company is best known for its DC-optimized inverter system, which uses power optimizers attached to individual solar modules to improve energy harvesting and provide module-level monitoring. Its platform is designed to support residential, commercial and utility-scale photovoltaic installations.

The company's product portfolio includes power optimizers, inverters, monitoring and management software, batteries and energy storage systems, and related solutions for backup power and electric vehicle charging.

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