SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Glj Research

Glj Research lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a strong-buy rating to a strong sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Mizuho cut their price target on shares of SolarEdge Technologies from $40.00 to $35.00 and set an outperform rating on the stock in a report on Thursday, September 19th. Canaccord Genuity Group cut their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a hold rating on the stock in a report on Thursday, August 8th. William Blair assumed coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They set a market perform rating on the stock. Bank of America cut their price target on shares of SolarEdge Technologies from $31.00 to $25.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial reiterated a hold rating and set a $20.00 price target on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of Hold and a consensus target price of $48.50.

SolarEdge Technologies Price Performance

SEDG opened at $18.18 on Tuesday. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies has a 12 month low of $17.12 and a 12 month high of $130.38. The company has a fifty day simple moving average of $22.36 and a 200 day simple moving average of $37.95. The stock has a market cap of $1.04 billion, a P/E ratio of -3.91 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data 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%. The company’s quarterly revenue was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 earnings per share. On average, research analysts expect that SolarEdge Technologies will post -8.56 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth $28,000. GAMMA Investing LLC grew its stake in shares of SolarEdge Technologies by 90.0% in the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of SolarEdge Technologies by 1,066.7% in the first quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at $64,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.