SolarEdge Technologies' (SEDG) "Neutral" Rating Reaffirmed at The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at The Goldman Sachs Group in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $27.00 price objective on the semiconductor company's stock. The Goldman Sachs Group's target price points to a potential downside of 2.07% from the company's previous close.

SEDG has been the topic of a number of other reports. Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective on the stock in a report on Friday, May 23rd. 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 report on Tuesday, June 10th. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the stock a "hold" rating in a report on Wednesday, May 7th. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.96.

SolarEdge Technologies Stock Up 1.8%

NASDAQ SEDG traded up $0.48 during trading on Wednesday, hitting $27.57. The company's stock had a trading volume of 3,095,547 shares, compared to its average volume of 4,745,824. 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 company has a market cap of $1.63 billion, a PE ratio of -0.91 and a beta of 1.62. The business's 50 day simple moving average is $19.51 and its 200-day simple moving average is $16.44. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week 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) 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 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 business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.90) earnings per share. On average, equities analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 2,680.8% in the first quarter. GAMMA Investing LLC now owns 146,380 shares of the semiconductor company's stock valued at $2,368,000 after purchasing an additional 141,116 shares during the period. Teza Capital Management LLC increased its position in shares of SolarEdge Technologies by 59.1% during the fourth quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company's stock worth $681,000 after purchasing an additional 18,602 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Headlands Technologies LLC acquired a new stake in SolarEdge Technologies in the 4th quarter valued at about $257,000. Finally, Renaissance Technologies LLC raised its holdings in SolarEdge Technologies by 79.6% in the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after acquiring an additional 278,200 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.