SolarEdge Technologies' (SEDG) "Underweight" Rating Reiterated at KeyCorp

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report)'s stock had its "underweight" rating restated by equities research analysts at KeyCorp in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $16.00 target price on the semiconductor company's stock. KeyCorp's price objective indicates a potential upside of 9.01% from the stock's current price.

Several other brokerages have also recently weighed in on SEDG. Mizuho boosted their price objective on shares of SolarEdge Technologies from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, June 2nd. Piper Sandler upped their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Roth Mkm raised their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price for the company in a research report on Friday, May 23rd. Twelve research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $16.96.

SolarEdge Technologies Trading Down 38.8%

SolarEdge Technologies stock traded down $9.30 during trading hours on Tuesday, hitting $14.68. The stock had a trading volume of 13,939,535 shares, compared to its average volume of 4,717,279. The business's 50 day simple moving average is $16.32 and its 200-day simple moving average is $15.51. SolarEdge Technologies has a one year low of $10.24 and a one year high of $40.47. The stock has a market cap of $866.59 million, a price-to-earnings ratio of -0.47 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The business had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same quarter last year, the business earned ($1.90) EPS. The firm's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently added to or reduced their stakes in SEDG. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after purchasing an additional 641,915 shares during the period. Vanguard Group Inc. boosted its position in shares of SolarEdge Technologies by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock valued at $48,993,000 after acquiring an additional 126,246 shares during the last quarter. Invesco Ltd. lifted its position in SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after purchasing an additional 116,809 shares during the last quarter. Ion Asset Management Ltd. grew its position in SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after acquiring an additional 1,199,801 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth about $17,909,000. 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.