JPMorgan Chase & Co. Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price objective cut by JPMorgan Chase & Co. from $20.00 to $18.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the semiconductor company's stock.

A number of other equities analysts also recently commented on the company. Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, April 25th. Royal Bank of Canada raised their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Barclays raised their price objective on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. Finally, Roth Mkm upped their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has an average rating of "Hold" and an average price target of $16.32.

SolarEdge Technologies Trading Up 8.3 %

Shares of SEDG traded up $1.52 during trading hours on Wednesday, hitting $19.81. The company had a trading volume of 8,331,192 shares, compared to its average volume of 4,371,896. The firm has a market cap of $1.17 billion, a P/E ratio of -0.64 and a beta of 1.50. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $56.52. The stock's 50 day moving average price is $14.72 and its 200 day moving average price is $14.66. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the previous year, the company posted ($1.90) earnings per share. The business's revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that SolarEdge Technologies will post -4.54 EPS for the current year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 790 shares during the period. Millstone Evans Group LLC purchased a new position in SolarEdge Technologies in the 4th quarter worth approximately $27,000. Banque Cantonale Vaudoise bought a new position in SolarEdge Technologies in the 1st quarter worth approximately $35,000. Jones Financial Companies Lllp boosted its stake in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares during the period. Finally, Y.D. More Investments Ltd grew its holdings in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after buying an additional 2,770 shares in the last quarter. Hedge funds and other institutional investors 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.