SolarEdge Technologies (NASDAQ:SEDG) Upgraded 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 issued on Wednesday morning,Zacks.com reports.

Several other brokerages have also weighed in on SEDG. UBS Group raised 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. Guggenheim reissued a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Jefferies Financial Group raised their price objective on shares of SolarEdge Technologies from $10.00 to $18.00 and gave the stock an "underperform" rating in a report on Monday, July 14th. Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a report on Friday, May 23rd. Finally, Canaccord Genuity Group lifted their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $17.92.

SolarEdge Technologies Trading Up 10.5%

NASDAQ SEDG traded up $3.03 during mid-day trading on Wednesday, reaching $31.86. 9,426,607 shares of the stock were exchanged, compared to its average volume of 4,718,858. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $33.28. The business's fifty day simple moving average is $20.77 and its 200 day simple moving average is $16.97. The stock has a market capitalization of $1.88 billion, a PE ratio of -1.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced 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. 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 revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.90) EPS. On average, research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Hapoalim BM lifted its holdings in shares of SolarEdge Technologies by 73.5% during the second quarter. Bank Hapoalim BM now owns 70,475 shares of the semiconductor company's stock valued at $1,438,000 after purchasing an additional 29,859 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in SolarEdge Technologies by 9.5% in the second quarter. State of Alaska Department of Revenue now owns 35,145 shares of the semiconductor company's stock valued at $716,000 after acquiring an additional 3,035 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in SolarEdge Technologies by 21.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 508 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in SolarEdge Technologies in the second quarter valued at about $204,000. Finally, Bayforest Capital Ltd lifted its holdings in SolarEdge Technologies by 367.3% in the first quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock valued at $923,000 after acquiring an additional 44,831 shares during the period. Institutional investors own 95.10% of the company's stock.

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.