Mizuho Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price objective hoisted by research analysts at Mizuho from $18.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. Mizuho's price objective would indicate a potential upside of 12.38% from the company's current price.

Other equities analysts also recently issued reports about the company. Barclays upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $12.00 to $29.00 in a research report on Monday. Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a report on Friday, May 23rd. Canaccord Genuity Group raised their target price on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, Glj Research downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 target price for the company. in a research report on Tuesday, June 17th. Eleven investment analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $17.61.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded up $0.85 during trading hours on Monday, hitting $25.81. The company had a trading volume of 2,203,357 shares, compared to its average volume of 4,687,297. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.52 billion, a P/E ratio of -0.85 and a beta of 1.62. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $31.07. The business has a fifty day simple moving average of $20.50 and a 200-day simple moving average of $16.76.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued 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. The firm had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. SolarEdge Technologies's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted ($1.90) EPS. Equities analysts predict that SolarEdge Technologies will post -4.54 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of 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 valued at $716,000 after buying an additional 3,035 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in SolarEdge Technologies by 21.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 508 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $204,000. Bayforest Capital Ltd lifted its position in shares of SolarEdge Technologies by 367.3% in 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 in the last quarter. Finally, Caxton Associates LLP acquired a new position in SolarEdge Technologies in the 1st quarter valued at approximately $4,164,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.