JPMorgan Chase & Co. Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by stock analysts at JPMorgan Chase & Co. from $38.00 to $31.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.69% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Barclays decreased their target price on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 7th. Royal Bank Of Canada upped their price target on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, September 11th. Mizuho increased their price target on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 21st. Finally, Susquehanna lowered their price objective on shares of SolarEdge Technologies from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $36.93.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded up $1.31 during midday trading on Thursday, hitting $27.51. The company had a trading volume of 2,787,033 shares, compared to its average volume of 2,438,225. The firm has a 50-day moving average price of $32.65 and a 200-day moving average price of $42.12. The company has a market capitalization of $1.69 billion, a PE ratio of -7.24 and a beta of 1.31. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. SolarEdge Technologies has a twelve month low of $25.25 and a twelve month high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.25. The company had revenue of $325.40 million for the quarter, compared to analysts’ expectations of $326.78 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 down 4.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.31) earnings per share. As a group, analysts anticipate that SolarEdge Technologies will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming grew its stake in shares of SolarEdge Technologies by 32.9% during the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after buying an additional 306 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of SolarEdge Technologies by 18.7% in the 3rd 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 during the last quarter. Allworth Financial LP acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at $31,000. Nykredit A S acquired a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at $36,000. Finally, Swiss National Bank grew its position in SolarEdge Technologies by 0.9% during the 1st quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company’s stock worth $6,034,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies News Roundup

Here are the key news stories impacting SolarEdge Technologies this week:

• Positive Sentiment: SolarEdge’s quarterly earnings per share beat consensus expectations, helping drive unusually high trading volume. Revenue came in slightly below estimates, tempering the positive result. SolarEdge sees unusually high trading volume on better-than-expected earnings
• Neutral Sentiment: Susquehanna lowered its target from $32 to $31 but maintained a neutral rating; JPMorgan also kept a neutral rating while cutting its target from $38 to $31. Both targets remain above the reference share price. Susquehanna sets new price target
• Negative Sentiment: Royal Bank of Canada cut its target from $30 to $25 and rated the shares sector perform. Citigroup lowered its target from $30 to $24 with a sell rating, while Goldman Sachs cut its target from $29 to $25 and also rated the stock sell. These calls point to limited upside or potential downside. Royal Bank of Canada recommendations
• Negative Sentiment: Weak demand is seen as clouding SolarEdge’s recovery, adding to concerns that a rebound may take longer than hoped. SolarEdge: Weak Demand Clouds The Recovery

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.