Barclays Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price decreased by stock analysts at Barclays from $37.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price would suggest a potential upside of 11.63% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Mizuho upped their price objective on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. TD Cowen dropped their target price on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 20th. The Goldman Sachs Group cut their target price on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, August 6th. Susquehanna decreased their price target on SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on SolarEdge Technologies from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $39.13.

SolarEdge Technologies Trading Down 5.3%

Shares of NASDAQ SEDG traded down $1.79 during mid-day trading on Wednesday, reaching $32.25. 635,720 shares of the company’s stock were exchanged, compared to its average volume of 3,408,463. The company’s 50-day moving average is $34.12 and its 200-day moving average is $45.78. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -7.17 and a beta of 1.44. SolarEdge Technologies has a 52-week low of $28.21 and a 52-week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. SolarEdge Technologies’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.81) earnings per share. Analysts expect that SolarEdge Technologies will post -1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of SolarEdge Technologies in the second quarter worth $31,000. Nykredit A S acquired a new position in SolarEdge Technologies during the 2nd quarter worth $36,000. State of Wyoming increased its holdings in SolarEdge Technologies by 32.9% during the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 306 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at about $72,000. Finally, EFG International AG purchased a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $123,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.