SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by KeyCorp

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by equities researchers at KeyCorp from an "underweight" rating to a "sector weight" rating in a research note issued to investors on Tuesday,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research note on Tuesday, April 15th. Mizuho boosted their price target 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. Wells Fargo & Company dropped their price target 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. Glj Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price target for the company. in a research note on Tuesday, June 17th. Finally, Morgan Stanley restated an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.12.

SolarEdge Technologies Stock Down 4.0%

SEDG stock opened at $26.43 on Tuesday. The firm has a market cap of $1.56 billion, a PE ratio of -0.88 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. The firm's 50 day moving average price is $18.64 and its 200-day moving average price is $16.21. SolarEdge Technologies has a one year low of $10.24 and a one year high of $32.11.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results 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 company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.90) earnings per share. On average, equities research analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies during the fourth quarter worth about $17,909,000. Ion Asset Management Ltd. grew its position in SolarEdge Technologies by 135.9% during the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after buying an additional 1,199,801 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in SolarEdge Technologies by 10,038.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock worth $17,945,000 after buying an additional 1,098,284 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares during the period. Finally, Legal & General Group Plc grew its position in SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after buying an additional 512,035 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.

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