SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by Wall Street Zen

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently commented on SEDG. Susquehanna reduced their price objective on SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Mizuho upped their price objective on SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. Citigroup boosted their price objective on shares of SolarEdge Technologies from $25.00 to $30.00 and gave the company a “sell” rating in a research note on Monday, September 21st. Finally, Morgan Stanley cut their price target on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $38.53.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $33.32 on Friday. SolarEdge Technologies has a one year low of $28.21 and a one year high of $81.25. The stock has a 50 day moving average price of $32.96 and a 200-day moving average price of $44.24. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -7.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $346.20 million during the quarter, compared to analyst estimates of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.81) earnings per share. Equities analysts expect that SolarEdge Technologies will post -1.21 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in SolarEdge Technologies in the 2nd quarter worth $31,000. Nykredit A S acquired a new stake in shares of SolarEdge Technologies in the second quarter valued at $36,000. Public Employees Retirement System of Ohio bought a new stake in shares of SolarEdge Technologies during the second quarter valued at approximately $72,000. State of Wyoming lifted its holdings in SolarEdge Technologies by 32.9% during the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after buying an additional 306 shares in the last quarter. Finally, EFG International AG acquired a new position in SolarEdge Technologies during the 2nd quarter worth $123,000. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.