SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $25.00 at Royal Bank of Canada

by · The Markets Daily

SolarEdge Technologies (NASDAQ:SEDG – Free Report) had its target price cut by Royal Bank of Canada from $35.00 to $25.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on SEDG. Piper Sandler lowered their price target on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Scotiabank lowered their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Glj Research cut SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Seven research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $39.35.

View Our Latest Analysis on SEDG

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $17.31 on Tuesday. 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 stock has a market cap of $991.86 million, a PE ratio of -1.93 and a beta of 1.56. The stock has a 50-day moving average of $21.73 and a 200-day moving average of $35.87. SolarEdge Technologies has a one year low of $16.91 and a one year high of $120.74.

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

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 289 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the 1st quarter valued at $64,000. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at $28,000. Hexagon Capital Partners LLC lifted its holdings in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 610 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in SolarEdge Technologies during the 1st quarter valued at $236,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

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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