SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Now Rated “Reduce” by Sell-Side Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus rating of “Reduce” from the eighteen research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $39.20.

Several research analysts recently weighed in on SEDG shares. JPMorgan Chase & Co. increased their price objective on SolarEdge Technologies from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Glj Research reiterated a “sell” rating on shares of SolarEdge Technologies in a report on Thursday, June 11th. Wells Fargo & Company began coverage on SolarEdge Technologies in a research report on Monday, June 29th. They set an “equal weight” rating and a $36.00 price objective for the company. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, August 6th. Finally, TD Cowen lowered their target price on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 20th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in SolarEdge Technologies in the second quarter valued at $76,095,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in SolarEdge Technologies during the 2nd quarter worth $55,514,000. Meitav Investment House Ltd. increased its holdings in SolarEdge Technologies by 541.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock worth $51,946,000 after purchasing an additional 858,954 shares during the period. ING Groep NV acquired a new stake in SolarEdge Technologies in the 4th quarter valued at about $13,848,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in SolarEdge Technologies in the 1st quarter valued at about $17,009,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $30.87 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $34.61 and a 200 day moving average price of $45.97. SolarEdge Technologies has a 12-month low of $28.21 and a 12-month high of $81.25. The stock has a market cap of $1.90 billion, a P/E ratio of -6.86 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. During the same period in the previous year, the business posted ($0.81) EPS. SolarEdge Technologies’s revenue was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that SolarEdge Technologies will post -1.25 earnings per share for the current year.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.