SolarEdge Technologies (NASDAQ:SEDG) PT Lowered to $41.00 at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) had its price target trimmed by Morgan Stanley from $83.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. Susquehanna cut SolarEdge Technologies from a positive rating to a neutral rating and reduced their price target for the stock from $92.00 to $56.00 in a research note on Monday, May 13th. JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $73.00 to $59.00 and set an overweight rating on the stock in a research note on Thursday, June 20th. BMO Capital Markets reduced their price target on SolarEdge Technologies from $73.00 to $56.00 and set a market perform rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group reduced their price target on SolarEdge Technologies from $64.00 to $49.00 and set a sell rating on the stock in a research note on Thursday, May 9th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $71.00 price target on shares of SolarEdge Technologies in a research note on Friday, June 7th. Four analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of Hold and an average price target of $76.35.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $25.26 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.45 billion, a PE ratio of -5.43 and a beta of 1.62. The business has a 50 day moving average of $47.60 and a 200 day moving average of $65.29. SolarEdge Technologies has a 52 week low of $24.44 and a 52 week high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The business had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, equities research analysts forecast that SolarEdge Technologies will post -6.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its position in shares of SolarEdge Technologies by 3,750.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after purchasing an additional 45,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of SolarEdge Technologies by 19.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 19,050 shares of the semiconductor company’s stock worth $1,353,000 after purchasing an additional 3,107 shares in the last quarter. PGGM Investments grew its position in shares of SolarEdge Technologies by 32.2% during the first quarter. PGGM Investments now owns 530,662 shares of the semiconductor company’s stock worth $37,666,000 after purchasing an additional 129,142 shares in the last quarter. Swedbank AB purchased a new stake in shares of SolarEdge Technologies during the first quarter worth about $261,312,000. Finally, Tidal Investments LLC grew its position in shares of SolarEdge Technologies by 251.0% during the first quarter. Tidal Investments LLC now owns 57,496 shares of the semiconductor company’s stock worth $4,081,000 after purchasing an additional 41,116 shares in the last quarter. 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.