SolarEdge Technologies (NASDAQ:SEDG) Sets New 1-Year Low at $19.43

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) reached a new 52-week low during trading on Friday . The company traded as low as $19.43 and last traded at $19.49, with a volume of 2908536 shares traded. The stock had previously closed at $20.66.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Northland Securities lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Truist Financial reissued a “hold” rating and issued a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Roth Mkm decreased their target price on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Four analysts have rated the stock with a sell rating, twenty-six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $51.62.

SolarEdge Technologies Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.36 and a beta of 1.56. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $25.62 and its 200-day simple moving average is $46.47.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 EPS. On average, equities research analysts predict that SolarEdge Technologies, Inc. will post -8.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of SEDG. Brevan Howard Capital Management LP raised its stake in shares of SolarEdge Technologies by 110.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after purchasing an additional 20,654 shares during the period. Albion Financial Group UT grew its holdings in SolarEdge Technologies by 32.2% during the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 955 shares in the last quarter. Principal Financial Group Inc. increased its stake in SolarEdge Technologies by 371.3% during the 4th quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after buying an additional 227,634 shares during the period. DekaBank Deutsche Girozentrale boosted its position in SolarEdge Technologies by 3,750.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after buying an additional 45,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SolarEdge Technologies during the second quarter valued at about $679,000. 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.