SolarEdge Technologies (NASDAQ:SEDG) Downgraded to Strong Sell Rating by Glj Research

Glj Research lowered shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a hold rating to a strong sell rating in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has $6.90 price target on the semiconductor company's stock.

A number of other brokerages have also recently weighed in on SEDG. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and upped their price objective for the stock from $13.00 to $15.00 in a research note on Thursday, February 20th. Canaccord Genuity Group boosted their target price 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. The Goldman Sachs Group increased their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Susquehanna lowered their price target 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. Finally, Northland Capmk upgraded shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. Twelve investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.96.

SolarEdge Technologies Stock Down 2.7%

NASDAQ SEDG traded down $0.46 during trading on Tuesday, reaching $16.52. 5,952,640 shares of the company's stock traded hands, compared to its average volume of 4,832,712. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $35.29. 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 firm has a market cap of $975.34 million, a price-to-earnings ratio of -0.55 and a beta of 1.59. The company's 50 day simple moving average is $16.51 and its two-hundred day simple moving average is $15.53.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) 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 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%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned ($1.90) earnings per share. As a group, sell-side analysts forecast that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Edmond DE Rothschild Holding S.A. increased its stake in shares of SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 600 shares during the period. Fifth Third Bancorp boosted its holdings in SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the fourth quarter valued at $27,000. Banque Cantonale Vaudoise acquired a new stake in SolarEdge Technologies during the 1st quarter worth about $35,000. Finally, Jones Financial Companies Lllp raised its stake in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. 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.