SolarEdge Technologies (NASDAQ:SEDG) Raised to “Hold” at Wall Street Zen

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, Wall Street Zen reports.

SEDG has been the subject of several other reports. BMO Capital Markets lowered their price objective on SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating for the company in a research report on Wednesday, October 21st. Mizuho lifted their target price on SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. JPMorgan Chase & Co. decreased their price target on SolarEdge Technologies from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. The Goldman Sachs Group lowered their price target on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a report on Thursday, August 6th. Finally, Barclays cut their price objective on SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $38.53.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $30.20 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $32.85 and a 200 day moving average price of $42.21. SolarEdge Technologies has a 12-month low of $28.11 and a 12-month high of $81.25. The stock has a market cap of $1.86 billion, a P/E ratio of -6.71 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $346.20 million for the quarter, compared to analyst estimates 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 was up 19.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.81) EPS. Sell-side analysts anticipate that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SEDG. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SolarEdge Technologies during the third quarter worth about $1,912,000. Counterpoint Mutual Funds LLC grew its holdings in shares of SolarEdge Technologies by 22.1% in the third quarter. Counterpoint Mutual Funds LLC now owns 22,526 shares of the semiconductor company’s stock valued at $718,000 after purchasing an additional 4,083 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of SolarEdge Technologies by 250.1% in the third quarter. Vontobel Holding Ltd. now owns 26,921 shares of the semiconductor company’s stock valued at $858,000 after purchasing an additional 19,231 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 purchasing an additional 479 shares in the last quarter. Finally, Miller Global Investments LLC increased its stake in SolarEdge Technologies by 61.2% during the 3rd quarter. Miller Global Investments LLC now owns 5,747 shares of the semiconductor company’s stock worth $183,000 after buying an additional 2,181 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

About SolarEdge Technologies

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.