SolarEdge Technologies (NASDAQ:SEDG) Lowered to “Sell” at Guggenheim

Guggenheim cut shares of SolarEdge Technologies (NASDAQ:SEDG) from a neutral rating to a sell rating in a research note released on Thursday, Marketbeat Ratings reports. The firm currently has $10.00 price target on the semiconductor company’s stock.

SEDG has been the topic of several other research reports. Morgan Stanley cut their price objective on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. DZ Bank downgraded shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price target on the stock. in a research note on Wednesday, July 17th. Roth Mkm lowered their price objective on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Piper Sandler reduced their target price on shares of SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial reaffirmed a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Seven research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.35.

SolarEdge Technologies Stock Down 3.4 %

NASDAQ SEDG opened at $17.93 on Thursday. SolarEdge Technologies has a 52 week low of $16.91 and a 52 week high of $126.09. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.99 and a beta of 1.56. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $21.80 and a two-hundred day moving average of $36.24.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 earnings per share. On average, analysts predict that SolarEdge Technologies will post -8.53 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the stock. Albion Financial Group UT lifted its holdings in shares of SolarEdge Technologies by 32.2% during the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 955 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in SolarEdge Technologies by 3,750.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after acquiring an additional 45,000 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at approximately $678,000. Handelsbanken Fonder AB boosted its holdings in SolarEdge Technologies by 1,634.6% in the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after purchasing an additional 202,010 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in SolarEdge Technologies during the second quarter worth about $679,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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.