SolarEdge Technologies (NASDAQ:SEDG) Lowered to Underperform at Jefferies Financial Group

Jefferies Financial Group lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to an underperform rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Jefferies Financial Group currently has $17.00 price objective on the semiconductor company’s stock, down from their prior price objective of $27.00.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their price objective on SolarEdge Technologies from $25.00 to $19.00 and set a sell rating on the stock in a report on Friday, August 9th. William Blair began coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They issued a market perform rating on the stock. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $36.00 to $24.00 and set a neutral rating for the company in a research report on Thursday, August 8th. DZ Bank cut SolarEdge Technologies from a hold rating to a sell rating and set a $24.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Bank of America reduced their price objective on shares of SolarEdge Technologies from $31.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Five research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of Hold and a consensus target price of $49.35.

SolarEdge Technologies Trading Down 2.3 %

SEDG stock opened at $21.20 on Tuesday. SolarEdge Technologies has a 52-week low of $17.12 and a 52-week high of $141.70. The business has a fifty day moving average of $24.54 and a two-hundred day moving average of $43.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s revenue was down 73.2% compared to the same quarter last year. Analysts predict that SolarEdge Technologies will post -8.67 EPS for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in SolarEdge Technologies by 374.4% during the 4th quarter. Victory Capital Management Inc. now owns 9,161 shares of the semiconductor company’s stock valued at $857,000 after purchasing an additional 7,230 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in SolarEdge Technologies by 18.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,955 shares of the semiconductor company’s stock valued at $277,000 after acquiring an additional 465 shares during the period. Norges Bank purchased a new stake in shares of SolarEdge Technologies during the 4th quarter valued at approximately $39,547,000. PNC Financial Services Group Inc. grew its position in shares of SolarEdge Technologies by 41.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,059 shares of the semiconductor company’s stock valued at $1,410,000 after purchasing an additional 4,413 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $222,000. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.