SolarEdge Technologies (NASDAQ:SEDG) Reaches New 12-Month Low – Here’s What Happened

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $28.11 and last traded at $29.0340, with a volume of 2,734,194 shares. The stock had previously closed at $32.16.

Analyst Upgrades and Downgrades

SEDG has been the subject of several recent analyst reports. Barclays lowered their target price on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Mizuho raised their target price on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. UBS Group raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a research note on Wednesday, August 26th. Susquehanna decreased their price objective on shares of SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Finally, Morgan Stanley dropped their target price on SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies presently has an average rating of “Reduce” and a consensus price target of $38.53.

SolarEdge Technologies Trading Down 9.7%

The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $32.93 and its 200-day moving average price is $42.27. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -6.46 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The company had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $341.15 million. During the same period in the previous year, the firm posted ($0.81) EPS. SolarEdge Technologies’s revenue was up 19.6% compared to the same quarter last year. Equities analysts expect that SolarEdge Technologies, Inc. will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming grew its holdings 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 in the last quarter. Farther Finance Advisors LLC boosted its position in SolarEdge Technologies by 18.7% during the third quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 479 shares during the last quarter. Allworth Financial LP acquired a new position in SolarEdge Technologies during the second quarter worth about $31,000. Nykredit A S acquired a new position in SolarEdge Technologies during the second quarter worth about $36,000. Finally, Swiss National Bank grew its stake in SolarEdge Technologies by 0.9% during the 1st quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company’s stock valued at $6,034,000 after acquiring an additional 1,100 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 (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.