BNP Paribas Exane Downgrades SolarEdge Technologies (NASDAQ:SEDG) to Underperform

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was downgraded by equities researchers at BNP Paribas Exane from a "neutral" rating to an "underperform" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $17.00 target price on the semiconductor company's stock. BNP Paribas Exane's target price suggests a potential downside of 36.14% from the stock's previous close.

Other analysts also recently issued reports about the company. Canaccord Genuity Group upped their target price on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research report on Wednesday, May 7th. Barclays upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $12.00 to $29.00 in a research report on Monday, July 14th. Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $23.00 price objective (up from $18.00) on shares of SolarEdge Technologies in a research report on Tuesday. Finally, Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a research report on Friday, May 23rd. Eleven equities research analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and a consensus price target of $17.36.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded up $1.37 on Wednesday, reaching $26.62. The stock had a trading volume of 4,020,832 shares, compared to its average volume of 4,686,845. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The firm has a fifty day moving average of $20.77 and a two-hundred day moving average of $16.93. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $31.07. The company has a market cap of $1.57 billion, a P/E ratio of -0.88 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued 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. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same period in the prior year, the firm posted ($1.90) EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in SolarEdge Technologies by 9.5% during the second quarter. State of Alaska Department of Revenue now owns 35,145 shares of the semiconductor company's stock worth $716,000 after purchasing an additional 3,035 shares during the period. Public Employees Retirement System of Ohio grew its stake in 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 during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in SolarEdge Technologies during the second quarter worth approximately $204,000. Bayforest Capital Ltd grew its stake in SolarEdge Technologies by 367.3% during the first quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock worth $923,000 after purchasing an additional 44,831 shares during the period. Finally, Caxton Associates LLP acquired a new stake in SolarEdge Technologies during the first quarter worth approximately $4,164,000. Institutional investors and hedge funds own 95.10% of the company's stock.

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.