SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by Wall Street Zen

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms also recently issued reports on SEDG. Citigroup increased their price target on SolarEdge Technologies from $25.00 to $30.00 and gave the stock a “sell” rating in a research report on Monday, September 21st. Mizuho lifted their price objective on SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. The Goldman Sachs Group lowered their price objective on shares of SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a research note on Thursday, August 6th. Finally, TD Cowen dropped their price objective on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $38.53.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $33.32 on Friday. 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 $2.05 billion, a price-to-earnings ratio of -7.40 and a beta of 1.44. The stock has a 50 day moving average price of $32.96 and a 200 day moving average price of $44.23. SolarEdge Technologies has a 52-week low of $28.21 and a 52-week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 29.17% and a negative net margin of 20.29%. SolarEdge Technologies’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Sell-side analysts expect that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently modified their holdings of SEDG. Allworth Financial LP bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $31,000. Nykredit A S purchased a new stake in SolarEdge Technologies during the second quarter valued at approximately $36,000. State of Wyoming lifted its position in SolarEdge Technologies by 32.9% during the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 306 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in SolarEdge Technologies in the second quarter valued at approximately $72,000. Finally, Farther Finance Advisors LLC boosted its stake in SolarEdge Technologies by 18.7% in the third quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 479 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.