SolarEdge Technologies (NASDAQ:SEDG) Trading Down 3.1%

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell 3.1% during mid-day trading on Monday . The company traded as low as $26.71 and last traded at $26.72. 94,939 shares traded hands during trading, a decline of 97% from the average session volume of 3,136,711 shares. The stock had previously closed at $27.57.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Northland Capmk lowered SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Susquehanna cut their price objective on SolarEdge Technologies from $56.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Morgan Stanley cut their price objective on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, June 26th. Canaccord Genuity Group cut their price objective on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a report on Tuesday, June 25th. Finally, Piper Sandler upped their price objective on SolarEdge Technologies from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.58.

SolarEdge Technologies Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The firm has a 50-day simple moving average of $36.07 and a two-hundred day simple moving average of $56.02.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities research analysts expect that SolarEdge Technologies, Inc. will post -6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its holdings in shares of SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the last quarter. GAMMA Investing LLC bought a new stake in SolarEdge Technologies during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc boosted its stake in 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 purchasing an additional 640 shares during the period. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the 1st quarter valued at approximately $64,000. Finally, Hexagon Capital Partners LLC boosted its stake in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 610 shares during the period. Institutional investors and hedge funds 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.