SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Consensus Rating of “Reduce” from Brokerages

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned an average rating of “Reduce” from the twenty-nine ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.84.

Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and issued a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a report on Friday, November 15th. Roth Mkm reduced their target price on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Truist Financial dropped their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $11.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of SolarEdge Technologies in the 3rd quarter worth approximately $5,293,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after buying an additional 220,304 shares during the last quarter. Handelsbanken Fonder AB grew its position in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after buying an additional 202,010 shares during the period. Finally, E. Ohman J or Asset Management AB increased its holdings in SolarEdge Technologies by 109.3% during the third 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 buying an additional 195,085 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 2.9 %

SolarEdge Technologies stock opened at $14.76 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $855.34 million, a P/E ratio of -0.51 and a beta of 1.56. The firm has a 50 day moving average price of $14.19 and a 200-day moving average price of $18.05. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s quarterly revenue was down 64.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.03) earnings per share. As a group, equities analysts predict that SolarEdge Technologies will post -23.19 EPS for the current 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.