SolarEdge Technologies Inc. (NASDAQ:SEDG) was downgraded by equities researchers at Roth Capital from a “buy” rating to a “neutral” rating in a report issued on Thursday.

Several other research analysts have also issued reports on the stock. Goldman Sachs Group Inc. lowered shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $19.00 to $12.00 in a research note on Thursday, October 6th. JPMorgan Chase & Co. set a $31.00 price objective on shares of SolarEdge Technologies and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Needham & Company LLC lowered their price objective on shares of SolarEdge Technologies from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, September 14th. Canaccord Genuity restated a “buy” rating and set a $27.00 price objective on shares of SolarEdge Technologies in a report on Friday, September 23rd. Finally, Axiom Securities initiated coverage on shares of SolarEdge Technologies in a report on Friday, October 14th. They set a “sell” rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.18.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 13.35 on Thursday. SolarEdge Technologies has a one year low of $11.35 and a one year high of $30.50. The company’s 50 day moving average is $15.03 and its 200 day moving average is $18.25. The company has a market cap of $545.99 million, a P/E ratio of 7.02 and a beta of -0.22.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 9th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business had revenue of $128.50 million for the quarter, compared to analyst estimates of $132.28 million. SolarEdge Technologies had a net margin of 15.46% and a return on equity of 29.93%. SolarEdge Technologies’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts predict that SolarEdge Technologies will post $1.59 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Senvest Management LLC raised its position in SolarEdge Technologies by 30.9% in the third quarter. Senvest Management LLC now owns 1,974,455 shares of the company’s stock valued at $34,020,000 after buying an additional 466,376 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of SolarEdge Technologies during the second quarter worth $26,421,000. Sylebra HK Co Ltd raised its position in shares of SolarEdge Technologies by 41.2% in the second quarter. Sylebra HK Co Ltd now owns 1,208,429 shares of the company’s stock worth $23,685,000 after buying an additional 352,561 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of SolarEdge Technologies by 13.5% in the second quarter. Neuberger Berman Group LLC now owns 1,055,285 shares of the company’s stock worth $20,684,000 after buying an additional 125,152 shares in the last quarter. Finally, Prince Street Capital Management LLC raised its position in shares of SolarEdge Technologies by 41.2% in the second quarter. Prince Street Capital Management LLC now owns 857,700 shares of the company’s stock worth $16,811,000 after buying an additional 250,300 shares in the last quarter. Institutional investors own 61.07% of the company’s stock.

About SolarEdge Technologies

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.

5 Day Chart for NASDAQ:SEDG

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