SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $12.00 at Roth Mkm

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by Roth Mkm from $20.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Roth Mkm’s price objective would indicate a potential downside of 17.86% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays cut their price objective on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a research report on Friday, October 11th. Truist Financial reissued a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lowered their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group cut SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their price target for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Finally, Mizuho cut SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $11.00 in a research note on Thursday. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.04.

SolarEdge Technologies Trading Down 0.5 %

SEDG traded down $0.07 during trading on Thursday, reaching $14.61. 9,724,267 shares of the company’s stock were exchanged, compared to its average volume of 3,410,450. The company’s fifty day moving average price is $19.54 and its 200-day moving average price is $31.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. SolarEdge Technologies has a fifty-two week low of $12.38 and a fifty-two week high of $103.15. The firm has a market capitalization of $837.15 million, a PE ratio of -1.55 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue was down 73.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. As a group, equities analysts forecast that SolarEdge Technologies will post -8.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Meitav Investment House Ltd. raised its holdings in SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in SolarEdge Technologies in the third quarter worth $1,495,000. E. Ohman J or Asset Management AB grew its stake in SolarEdge Technologies by 109.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock valued at $8,559,000 after purchasing an additional 195,085 shares during the period. Assenagon Asset Management S.A. increased its position in shares of SolarEdge Technologies by 56.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock valued at $7,093,000 after purchasing an additional 111,944 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of SolarEdge Technologies during the 2nd quarter worth $678,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

About SolarEdge Technologies

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.