Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $72.08

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned a consensus rating of “Hold” from the thirty-one research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $70.69.

Several equities analysts recently weighed in on the company. DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a research note on Wednesday, July 17th. B. Riley dropped their price target on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Northland Securities downgraded SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $56.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Scotiabank cut their target price on shares of SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC grew its holdings in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $30,000. Compagnie Lombard Odier SCmA grew its stake in shares of SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 500 shares during the period. Versant Capital Management Inc increased its holdings in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 640 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of SolarEdge Technologies in the 1st quarter worth $64,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $25.69 on Wednesday. The firm’s fifty day simple moving average is $38.55 and its 200-day simple moving average is $57.90. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.47 billion, a PE ratio of -5.52 and a beta of 1.52. SolarEdge Technologies has a fifty-two week low of $23.51 and a fifty-two week high of $269.03.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. Analysts expect that SolarEdge Technologies will post -6.73 earnings per share for the current fiscal year.

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.