The Goldman Sachs Group Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $25.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target cut by The Goldman Sachs Group from $49.00 to $25.00 in a report issued on Thursday, Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on SEDG. Royal Bank of Canada reaffirmed a sector perform rating and set a $71.00 price target on shares of SolarEdge Technologies in a research note on Friday, June 7th. DZ Bank assumed coverage on SolarEdge Technologies in a research note on Wednesday, April 17th. They set a hold rating and a $62.00 target price for the company. Citigroup dropped their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a neutral rating on the stock in a research report on Thursday, May 9th. Bank of America reduced their price objective on shares of SolarEdge Technologies from $54.00 to $44.00 and set an underperform rating for the company in a research report on Friday, May 10th. Finally, Mizuho dropped their target price on shares of SolarEdge Technologies from $104.00 to $84.00 and set a buy rating on the stock in a report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of Hold and a consensus price target of $76.35.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $25.26 on Thursday. The stock has a market cap of $1.45 billion, a P/E ratio of -5.43 and a beta of 1.62. The firm’s 50-day simple moving average is $47.60 and its 200 day simple moving average is $65.21. SolarEdge Technologies has a fifty-two week low of $24.44 and a fifty-two week high of $288.87. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly 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 company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities analysts expect that SolarEdge Technologies will post -6.49 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC boosted its position in SolarEdge Technologies by 1,345.0% during the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $30,000. Compagnie Lombard Odier SCmA grew its stake in shares of SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 500 shares in the last quarter. Versant Capital Management Inc increased its holdings in SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 640 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in SolarEdge Technologies during the first quarter valued at approximately $64,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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.