SolarEdge Technologies (NASDAQ:SEDG) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of SolarEdge Technologies (NASDAQ:SEDG – Free Report) from a sell rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

SEDG has been the topic of several other research reports. Wells Fargo & Company initiated coverage on shares of SolarEdge Technologies in a research note on Monday, June 29th. They issued an “equal weight” rating and a $36.00 target price on the stock. Barclays reduced their price target on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. Citigroup boosted their price objective on shares of SolarEdge Technologies from $25.00 to $30.00 and gave the stock a “sell” rating in a report on Monday, September 21st. Royal Bank Of Canada upped their price objective on SolarEdge Technologies from $24.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, September 11th. Finally, Susquehanna lowered their price objective on SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $39.13.

Check Out Our Latest Stock Analysis on SolarEdge Technologies

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $32.21 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.16 and a beta of 1.44. The firm’s 50-day moving average is $33.64 and its 200 day moving average is $45.46. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. SolarEdge Technologies’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.81) EPS. Sell-side analysts anticipate that SolarEdge Technologies will post -1.20 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in SolarEdge Technologies by 0.7% during the 2nd quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company’s stock worth $102,965,000 after acquiring an additional 12,188 shares during the period. Legal & General Group Plc bought a new position in shares of SolarEdge Technologies in the second quarter worth approximately $76,095,000. Handelsbanken Fonder AB boosted its position in shares of SolarEdge Technologies by 16.6% in the second quarter. Handelsbanken Fonder AB now owns 1,230,401 shares of the semiconductor company’s stock worth $71,905,000 after purchasing an additional 175,281 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of SolarEdge Technologies in the second quarter worth $55,514,000. Finally, Meitav Investment House Ltd. increased its stake in shares of SolarEdge Technologies by 541.6% in the first quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock worth $51,946,000 after purchasing an additional 858,954 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

(Get Free Report)

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.

Further Reading

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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