Roth Mkm Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $27.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price dropped by equities researchers at Roth Mkm from $55.00 to $27.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s target price suggests a potential upside of 7.27% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley decreased their price objective on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 26th. Mizuho decreased their price objective on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, May 10th. B. Riley decreased their price objective on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays boosted their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company decreased their target price on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.58.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $25.17 on Tuesday. The business has a 50-day moving average of $36.95 and a 200 day moving average of $56.89. SolarEdge Technologies has a 12 month low of $23.51 and a 12 month high of $265.42. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -5.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that SolarEdge Technologies will post -6.75 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Manchester Capital Management LLC lifted its position in shares of SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $30,000. Versant Capital Management Inc lifted its position in shares of 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. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies in the first quarter worth about $64,000. Finally, Compagnie Lombard Odier SCmA lifted its position in shares of SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds 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.