SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $29.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target raised by Piper Sandler from $25.00 to $29.00 in a research report sent to investors on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the company an underweight rating in a research report on Tuesday, April 16th. Citigroup lowered their price target on SolarEdge Technologies from $83.00 to $71.00 and set a neutral rating for the company in a research report on Thursday, May 9th. Roth Mkm lowered their price target on SolarEdge Technologies from $76.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, May 7th. Mizuho lowered their price target on SolarEdge Technologies from $104.00 to $84.00 and set a buy rating for the company in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. increased their price target on SolarEdge Technologies from $49.00 to $50.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of Hold and a consensus target price of $69.58.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $27.45 on Monday. SolarEdge Technologies has a 12-month low of $23.51 and a 12-month high of $253.87. The business’s fifty day moving average is $36.48 and its 200 day moving average is $56.69. 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 stock has a market cap of $1.57 billion, a P/E ratio of -5.90 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The firm had revenue of $204.40 million during 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%. Sell-side analysts anticipate that SolarEdge Technologies will post -6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its stake in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC bought a new position in SolarEdge Technologies in the 4th quarter worth about $30,000. Compagnie Lombard Odier SCmA boosted its stake in SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares during the period. Versant Capital Management Inc boosted its position in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 640 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies during the 1st quarter valued at about $64,000. Institutional investors own 95.10% of the company’s stock.

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.