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SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Consensus Recommendation of "Reduce" by Analysts

SolarEdge Technologies logo with Energy background

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been assigned a consensus rating of "Reduce" from the twenty-seven ratings firms that are currently covering the company, MarketBeat reports. Nine analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $16.84.

Several equities analysts recently commented on the company. Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Finally, Canaccord Genuity Group upped their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a "hold" rating in a report on Wednesday, May 7th.

Get Our Latest Stock Report on SEDG

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SEDG. Janney Montgomery Scott LLC bought a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $227,000. Principal Financial Group Inc. increased its position in SolarEdge Technologies by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 277,832 shares of the semiconductor company's stock valued at $3,779,000 after buying an additional 11,704 shares in the last quarter. Private Advisor Group LLC bought a new position in SolarEdge Technologies during the 4th quarter valued at approximately $161,000. Meitav Investment House Ltd. increased its position in SolarEdge Technologies by 0.6% during the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after buying an additional 3,282 shares in the last quarter. Finally, RWC Asset Management LLP bought a new position in SolarEdge Technologies during the 4th quarter valued at approximately $173,000. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $18.19 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of -0.58 and a beta of 1.50. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $49.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The stock has a fifty day moving average of $15.45 and a 200-day moving average of $15.14.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The company had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. During the same period in the previous year, the business earned ($1.90) earnings per share. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.

SolarEdge Technologies Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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