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

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

Several other research analysts also recently commented on the stock. Truist Financial cut their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, January 16th. Morgan Stanley reissued an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $12.50 price target for the company in a report on Friday, April 25th. Piper Sandler raised their price target on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Finally, Susquehanna lowered their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus target price of $16.32.

SolarEdge Technologies Stock Up 1.1%

SEDG stock traded up $0.22 during trading on Wednesday, reaching $20.06. The stock had a trading volume of 4,271,439 shares, compared to its average volume of 4,373,639. SolarEdge Technologies has a one year low of $10.24 and a one year high of $56.52. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company's 50 day moving average is $14.72 and its two-hundred day moving average is $14.65. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -0.64 and a beta of 1.50.

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

Insider Activity

In other news, Chairman More Avery bought 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Point72 Asset Management L.P. bought a new position in shares of SolarEdge Technologies in the 4th quarter valued at approximately $17,909,000. Migdal Insurance & Financial Holdings Ltd. increased its position in SolarEdge Technologies by 10,038.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock worth $17,945,000 after buying an additional 1,098,284 shares during the period. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies in the 4th quarter worth approximately $12,005,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after buying an additional 564,490 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.