SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "neutral" rating restated by research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $27.00 target price on the semiconductor company's stock. The Goldman Sachs Group's price target suggests a potential upside of 5.39% from the company's previous close.
SEDG has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group reduced their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a report on Tuesday, April 15th. Glj Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price target for the company. in a report on Tuesday, June 17th. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Susquehanna decreased their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.96.
Read Our Latest Report on SolarEdge Technologies
SolarEdge Technologies Stock Performance
Shares of NASDAQ SEDG traded down $1.95 during trading hours on Wednesday, hitting $25.62. 3,515,403 shares of the stock were exchanged, compared to its average volume of 4,720,935. 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's 50 day moving average is $19.76 and its 200 day moving average is $16.52. The firm has a market capitalization of $1.51 billion, a P/E ratio of -0.85 and a beta of 1.62. SolarEdge Technologies has a one year low of $10.24 and a one year high of $31.07.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly 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. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. During the same period in the prior year, the firm earned ($1.90) EPS. The business's revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that SolarEdge Technologies will post -4.54 EPS for the current year.
Institutional Trading of SolarEdge Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Jones Financial Companies Lllp raised its position in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after acquiring an additional 144,733 shares in the last quarter. Counterpoint Mutual Funds LLC raised its position in SolarEdge Technologies by 159.8% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock worth $800,000 after acquiring an additional 36,187 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies in the fourth quarter valued at about $27,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of SolarEdge Technologies in the fourth quarter valued at about $146,000. 95.10% of the stock is owned by institutional investors.
About SolarEdge Technologies
(
Get Free Report)
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.
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