SolarEdge Technologies Inc. (NASDAQ:SEDG) had its target price lowered by Barclays PLC from $22.00 to $17.00 in a research note released on Tuesday morning. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently commented on SEDG. Roth Capital downgraded shares of SolarEdge Technologies from a buy rating to a neutral rating in a report on Thursday, November 10th. Needham & Company LLC reduced their target price on shares of SolarEdge Technologies from $36.00 to $28.00 and set a buy rating for the company in a report on Wednesday, August 10th. JMP Securities reaffirmed a buy rating on shares of SolarEdge Technologies in a report on Friday, September 23rd. Craig Hallum assumed coverage on shares of SolarEdge Technologies in a report on Monday, November 14th. They set a sell rating and a $7.00 target price for the company. Finally, Goldman Sachs Group Inc. reiterated a sell rating and issued a $13.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $20.50.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies (NASDAQ:SEDG) opened at 12.75 on Tuesday. The firm has a market cap of $523.55 million, a price-to-earnings ratio of 7.24 and a beta of -0.22. The company has a 50-day moving average of $14.35 and a 200 day moving average of $17.52. SolarEdge Technologies has a 52-week low of $11.35 and a 52-week high of $30.50.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. SolarEdge Technologies had a net margin of 15.46% and a return on equity of 29.93%. The company earned $128.50 million during the quarter, compared to the consensus estimate of $132.28 million. During the same quarter last year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that SolarEdge Technologies will post $1.52 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC bought a new position in SolarEdge Technologies during the third quarter worth about $907,000. Global Alpha Capital Management Ltd. boosted its position in SolarEdge Technologies by 16.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 100,900 shares of the company’s stock worth $1,739,000 after buying an additional 14,000 shares in the last quarter. Clinton Group Inc. bought a new position in SolarEdge Technologies during the third quarter worth about $356,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SolarEdge Technologies by 16.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 473,131 shares of the company’s stock worth $8,152,000 after buying an additional 65,337 shares in the last quarter. Finally, Prince Street Capital Management LLC boosted its position in SolarEdge Technologies by 12.6% in the third quarter. Prince Street Capital Management LLC now owns 965,400 shares of the company’s stock worth $16,633,000 after buying an additional 107,700 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

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SolarEdge Technologies Company Profile

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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