The Goldman Sachs Group Reaffirms "Neutral" Rating for SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at The Goldman Sachs Group in a research report issued on Wednesday, MarketBeat reports. They currently have a $27.00 price target on the semiconductor company's stock. The Goldman Sachs Group's price objective would indicate a potential downside of 0.33% from the stock's current price.

SEDG has been the topic of several other research reports. Barclays raised their price target on shares of SolarEdge Technologies from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Guggenheim reaffirmed a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut 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. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Eleven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of "Hold" and a consensus target price of $15.96.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded up $0.94 during trading hours on Wednesday, hitting $27.09. 4,487,346 shares of the company's stock traded hands, compared to its average volume of 4,766,288. The business's fifty day moving average price is $18.91 and its two-hundred day moving average price is $16.27. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.60 billion, a P/E ratio of -0.90 and a beta of 1.62. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $32.11.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million during 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 company's revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted ($1.90) earnings per share. Equities research analysts predict that SolarEdge Technologies will post -4.54 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bayforest Capital Ltd raised its stake in shares of SolarEdge Technologies by 367.3% during the 1st quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock worth $923,000 after buying an additional 44,831 shares during the last quarter. Caxton Associates LLP purchased a new position in SolarEdge Technologies in the 1st quarter worth approximately $4,164,000. Goldman Sachs Group Inc. boosted its holdings in SolarEdge Technologies by 8.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company's stock worth $16,147,000 after acquiring an additional 79,461 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of SolarEdge Technologies by 5,736.7% during the 1st quarter. Jones Financial Companies Lllp now owns 142,474 shares of the semiconductor company's stock valued at $2,305,000 after buying an additional 140,033 shares during the last quarter. Finally, Interval Partners LP boosted its stake in shares of SolarEdge Technologies by 249.4% during the 1st quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company's stock valued at $1,236,000 after buying an additional 54,523 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.