SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $17.00 at Barclays

by · The Markets Daily

SolarEdge Technologies (NASDAQ:SEDG – Free Report) had its price target trimmed by Barclays from $26.00 to $17.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the semiconductor company’s stock.

SEDG has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on SolarEdge Technologies from $58.00 to $38.00 and set a hold rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $62.00 to $29.00 and set an equal weight rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley dropped their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an equal weight rating on the stock in a report on Tuesday, October 8th. Jefferies Financial Group downgraded SolarEdge Technologies from a hold rating to an underperform rating and dropped their price objective for the stock from $27.00 to $17.00 in a report on Tuesday, September 17th. Finally, Glj Research downgraded SolarEdge Technologies from a strong-buy rating to a strong sell rating in a report on Tuesday, October 8th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of Hold and a consensus target price of $41.40.

Get Our Latest Research Report on SolarEdge Technologies

SolarEdge Technologies Price Performance

Shares of SEDG opened at $18.83 on Friday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.09 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $17.12 and a fifty-two week high of $130.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The business’s 50-day moving average is $22.12 and its 200-day moving average is $36.87.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. Equities research analysts expect that SolarEdge Technologies will post -8.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SEDG. Swedbank AB bought a new position in SolarEdge Technologies in the first quarter worth $261,312,000. Quarry LP acquired a new position in SolarEdge Technologies during the second quarter worth $36,627,000. Marshall Wace LLP raised its stake in SolarEdge Technologies by 425.1% during the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after acquiring an additional 450,081 shares in the last quarter. Quadrature Capital Ltd raised its stake in SolarEdge Technologies by 1,206.8% during the first quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock worth $17,080,000 after acquiring an additional 222,218 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after acquiring an additional 202,010 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Company Profile

(Get Free Report)

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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