SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Strong Sell at BNP Paribas

BNP Paribas upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) to a strong sell rating in a report published on Wednesday,Zacks.com reports.

SEDG has been the topic of a number of other research reports. Glj Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective on the stock. in a report on Tuesday, June 17th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $23.00 price objective (up previously from $18.00) on shares of SolarEdge Technologies in a report on Tuesday. 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. UBS Group boosted their price objective 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. Finally, Guggenheim reissued a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.36.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded up $1.37 during trading on Wednesday, reaching $26.62. The company's stock had a trading volume of 4,020,832 shares, compared to its average volume of 4,689,406. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -0.88 and a beta of 1.62. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $31.07. The business's fifty day moving average price is $20.77 and its 200-day moving average price is $16.95.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The company 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%. SolarEdge Technologies's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.90) earnings per share. As a group, analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after acquiring an additional 641,915 shares during the period. Vanguard Group Inc. increased its holdings in shares of SolarEdge Technologies by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock worth $48,993,000 after acquiring an additional 126,246 shares during the period. Invesco Ltd. increased its stake in SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after buying an additional 116,809 shares during the period. Ion Asset Management Ltd. increased its stake in SolarEdge Technologies by 135.9% during the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock valued at $33,695,000 after buying an additional 1,199,801 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies during the 4th quarter valued at about $17,909,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.