SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $12.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its price objective reduced by Roth Mkm from $20.00 to $12.00 in a report issued on Thursday,Benzinga reports. Roth Mkm currently has a neutral rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets cut their price objective on shares of SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. TD Cowen cut their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday. Scotiabank dropped their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price target on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.79.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock traded down $1.35 during midday trading on Thursday, reaching $13.53. 7,872,062 shares of the company’s stock were exchanged, compared to its average volume of 3,473,123. SolarEdge Technologies has a 52 week low of $12.38 and a 52 week high of $103.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm has a market cap of $775.27 million, a price-to-earnings ratio of -0.46 and a beta of 1.59. The stock’s 50-day simple moving average is $19.34 and its 200 day simple moving average is $31.18.

SolarEdge Technologies (NASDAQ:SEDG) last issued 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 company 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 56.32% and a negative net margin of 158.19%. The company’s revenue was down 73.2% on a year-over-year basis. During the same quarter last year, the business earned $2.06 earnings per share. On average, analysts expect that SolarEdge Technologies will post -8.85 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently modified their holdings of SEDG. Swedbank AB bought a new stake in shares of SolarEdge Technologies in the first quarter worth $261,312,000. Quarry LP bought a new stake in shares of SolarEdge Technologies in the second quarter worth $36,627,000. Marshall Wace LLP grew its stake in shares of SolarEdge Technologies by 425.1% in the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after purchasing an additional 450,081 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of SolarEdge Technologies by 1,206.8% in the first quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock worth $17,080,000 after purchasing an additional 222,218 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of SolarEdge Technologies by 1,634.6% in the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after purchasing an additional 202,010 shares during the last quarter. Institutional investors 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.