SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, Roth Capital Analyst Says

Key Points

• Roth Capital has raised its price target for SolarEdge Technologies from $15.00 to $25.00, maintaining a "neutral" rating on the stock.
• SolarEdge shares recently traded up 3.1% to $26.42, with a current market cap of $1.56 billion.
• Analysts have varying opinions on SolarEdge, with 11 firms rating it as a "sell" and 19 firms issuing a "hold" rating, reflecting cautious sentiment in the market.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective lifted by stock analysts at Roth Capital from $15.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor company's stock. Roth Capital's price target would suggest a potential upside of 0.24% from the company's previous close.

Several other brokerages have also recently weighed in on SEDG. 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 research note on Tuesday, June 17th. Susquehanna lifted their target price on SolarEdge Technologies from $14.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley reiterated an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price on the stock in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $23.00 target price (up from $18.00) on shares of SolarEdge Technologies in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a sell rating and nineteen have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.00.

SolarEdge Technologies Stock Up 2.1%

NASDAQ:SEDG traded up $0.52 during trading hours on Tuesday, hitting $24.94. 4,119,857 shares of the company traded hands, compared to its average volume of 4,814,365. The company has a quick ratio of 1.39, a current ratio of 1.94 and a debt-to-equity ratio of 0.72. The firm's 50-day simple moving average is $23.27 and its 200-day simple moving average is $18.21. SolarEdge Technologies has a one year low of $10.24 and a one year high of $32.45. The company has a market cap of $1.47 billion, a PE ratio of -0.83 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share for the quarter, meeting the consensus estimate of ($0.81). SolarEdge Technologies had a negative return on equity of 191.53% and a negative net margin of 177.64%. The business had revenue of $289.43 million for the quarter, compared to analysts' expectations of $270.03 million. During the same period last year, the business earned ($1.79) EPS. The business's revenue was up 9.0% on a year-over-year basis. Equities analysts predict that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. grew its holdings in SolarEdge Technologies by 6.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 6,472 shares of the semiconductor company's stock valued at $128,000 after buying an additional 404 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of SolarEdge Technologies by 2.9% during the second quarter. Maryland State Retirement & Pension System now owns 17,352 shares of the semiconductor company's stock worth $354,000 after purchasing an additional 486 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of SolarEdge Technologies by 21.5% during the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 508 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of SolarEdge Technologies by 0.5% during the first quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock worth $2,407,000 after purchasing an additional 766 shares in the last quarter. Hedge funds and other institutional investors 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.