SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Rating of "Reduce" by Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have received an average recommendation of "Reduce" from the twenty-seven brokerages that are covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.12.

Several research firms recently issued reports on SEDG. UBS Group increased their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group dropped their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research report on Tuesday, April 15th. Barclays increased their price target on shares of SolarEdge Technologies from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Finally, KeyCorp reissued an "underweight" rating and issued a $16.00 price target on shares of SolarEdge Technologies in a research report on Tuesday, June 17th.

SolarEdge Technologies Stock Performance

Shares of SEDG traded up $3.85 during trading hours on Wednesday, reaching $27.45. 9,478,849 shares of the company traded hands, compared to its average volume of 4,778,119. The stock's fifty day moving average is $18.37 and its 200 day moving average is $16.10. The stock has a market cap of $1.62 billion, a P/E ratio of -0.91 and a beta of 1.62. 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 1-year low of $10.24 and a 1-year high of $32.11.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.90) earnings per share. Equities research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after buying an additional 641,915 shares during the period. Vanguard Group Inc. raised its holdings in SolarEdge Technologies by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock worth $48,993,000 after purchasing an additional 126,246 shares during the period. Invesco Ltd. raised its holdings in SolarEdge Technologies by 5.0% in the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after purchasing an additional 116,809 shares during the period. Ion Asset Management Ltd. raised its holdings in SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after purchasing an additional 1,199,801 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies in the fourth quarter worth $17,909,000. 95.10% of the stock is owned by institutional investors.

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.