SolarEdge Technologies (SEDG) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for SolarEdge Technologies (NASDAQ: SEDG):

• 11/20/2024 – SolarEdge Technologies was upgraded by analysts at Guggenheim from a “sell” rating to a “neutral” rating.
• 11/15/2024 – SolarEdge Technologies had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $9.00 price target on the stock, down previously from $23.00.
• 11/15/2024 – SolarEdge Technologies had its price target lowered by analysts at Barclays PLC from $17.00 to $7.00. They now have an “underperform” rating on the stock.
• 11/8/2024 – SolarEdge Technologies was upgraded by analysts at StockNews.com to a “sell” rating.
• 11/8/2024 – SolarEdge Technologies had its price target lowered by analysts at UBS Group AG from $26.00 to $18.00. They now have a “neutral” rating on the stock.
• 11/8/2024 – SolarEdge Technologies had its price target lowered by analysts at Truist Financial Co. from $20.00 to $15.00. They now have a “hold” rating on the stock.
• 11/7/2024 – SolarEdge Technologies was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $9.00 price target on the stock, down previously from $17.00.
• 11/7/2024 – SolarEdge Technologies was downgraded by analysts at Bank of America Co. from a “neutral” rating to an “underperform” rating. They now have a $14.00 price target on the stock, down previously from $21.00.
• 11/7/2024 – SolarEdge Technologies had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $19.00 to $10.00. They now have a “sell” rating on the stock.
• 11/7/2024 – SolarEdge Technologies had its price target lowered by analysts at Roth Mkm from $20.00 to $12.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – SolarEdge Technologies had its price target lowered by analysts at Susquehanna from $20.00 to $11.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – SolarEdge Technologies was downgraded by analysts at Mizuho from an “outperform” rating to a “neutral” rating. They now have a $11.00 price target on the stock, down previously from $35.00.
• 11/7/2024 – SolarEdge Technologies had its price target lowered by analysts at BMO Capital Markets from $21.00 to $12.00. They now have a “market perform” rating on the stock.
• 11/7/2024 – SolarEdge Technologies had its price target lowered by analysts at TD Cowen from $16.00 to $11.00. They now have a “hold” rating on the stock.
• 10/23/2024 – SolarEdge Technologies had its price target lowered by analysts at JPMorgan Chase & Co. from $35.00 to $29.00. They now have an “overweight” rating on the stock.
• 10/22/2024 – SolarEdge Technologies had its price target lowered by analysts at Citigroup Inc. from $31.00 to $19.00. They now have a “neutral” rating on the stock.
• 10/21/2024 – SolarEdge Technologies had its price target lowered by analysts at Roth Mkm from $23.00 to $20.00. They now have a “neutral” rating on the stock.
• 10/21/2024 – SolarEdge Technologies had its “hold” rating reaffirmed by analysts at TD Cowen. They now have a $16.00 price target on the stock, down previously from $35.00.
• 10/17/2024 – SolarEdge Technologies was downgraded by analysts at Guggenheim from a “neutral” rating to a “sell” rating. They now have a $10.00 price target on the stock.
• 10/17/2024 – SolarEdge Technologies had its price target lowered by analysts at Piper Sandler from $25.00 to $17.00. They now have a “neutral” rating on the stock.
• 10/16/2024 – SolarEdge Technologies had its price target lowered by analysts at Susquehanna from $24.00 to $20.00. They now have a “neutral” rating on the stock.
• 10/15/2024 – SolarEdge Technologies had its price target lowered by analysts at Royal Bank of Canada from $35.00 to $25.00. They now have a “sector perform” rating on the stock.
• 10/14/2024 – SolarEdge Technologies had its price target lowered by analysts at BMO Capital Markets from $24.00 to $21.00. They now have a “market perform” rating on the stock.
• 10/11/2024 – SolarEdge Technologies had its price target lowered by analysts at Barclays PLC from $26.00 to $17.00. They now have an “underweight” rating on the stock.
• 10/10/2024 – SolarEdge Technologies had its price target lowered by analysts at Bank of America Co. from $22.00 to $21.00. They now have a “neutral” rating on the stock.
• 10/8/2024 – SolarEdge Technologies was downgraded by analysts at Glj Research from a “strong-buy” rating to a “strong sell” rating.
• 10/8/2024 – SolarEdge Technologies had its price target lowered by analysts at Morgan Stanley from $28.00 to $23.00. They now have an “equal weight” rating on the stock.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock traded up $0.76 during midday trading on Wednesday, hitting $14.45. The company’s stock had a trading volume of 449,482 shares, compared to its average volume of 3,604,597. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The company has a market cap of $837.38 million, a price-to-earnings ratio of -0.50 and a beta of 1.59. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $103.15. The company has a 50-day moving average price of $17.26 and a two-hundred day moving average price of $26.93.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. The firm’s quarterly revenue was down 64.0% on a year-over-year basis. As a group, sell-side analysts predict that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman More Avery acquired 156,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB bought a new stake in shares of SolarEdge Technologies during the first quarter worth $261,312,000. Quarry LP bought a new stake in SolarEdge Technologies during the 2nd quarter worth $36,627,000. Marshall Wace LLP increased its holdings in SolarEdge Technologies by 425.1% in the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after purchasing an additional 450,081 shares in the last quarter. Soros Fund Management LLC bought a new position in SolarEdge Technologies in the third quarter valued at about $5,293,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SolarEdge Technologies by 683.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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.