SolarEdge Technologies (NASDAQ:SEDG) Upgraded by StockNews.com to Sell
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SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research report issued on Thursday.
A number of other equities research analysts also recently commented on SEDG. Roth Mkm lifted their price target on shares of SolarEdge Technologies from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, December 7th. Truist Financial downgraded shares of SolarEdge Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $120.00 to $70.00 in a report on Thursday, November 2nd. BMO Capital Markets downgraded shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $111.00 to $68.00 in a report on Thursday, November 2nd. Barclays downgraded shares of SolarEdge Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $274.00 to $152.00 in a report on Monday, October 2nd. Finally, HSBC downgraded shares of SolarEdge Technologies from a “buy” rating to a “hold” rating and lowered their price target for the stock from $243.00 to $80.00 in a report on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.50.
Read Our Latest Stock Report on SolarEdge Technologies
SolarEdge Technologies Stock Performance
NASDAQ:SEDG opened at $96.43 on Thursday. The company has a current ratio of 3.84, a quick ratio of 2.49 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $82.51 and a two-hundred day moving average price of $155.17. SolarEdge Technologies has a twelve month low of $63.25 and a twelve month high of $345.80. The company has a market capitalization of $5.48 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 2.09 and a beta of 1.53.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($1.26). SolarEdge Technologies had a net margin of 6.13% and a return on equity of 14.14%. The business had revenue of $725.31 million for the quarter, compared to analysts’ expectations of $766.65 million. As a group, research analysts expect that SolarEdge Technologies will post 2.45 earnings per share for the current fiscal year.
Institutional Trading of SolarEdge Technologies
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. raised its holdings in SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after acquiring an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Geode Capital Management LLC raised its holdings in SolarEdge Technologies by 3.1% in the second quarter. Geode Capital Management LLC now owns 1,005,554 shares of the semiconductor company’s stock valued at $269,702,000 after acquiring an additional 30,149 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of SolarEdge Technologies by 46.3% during the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after purchasing an additional 297,089 shares during the period. 86.11% of the stock is owned by institutional investors and hedge funds.
About SolarEdge Technologies (Get Free Report)
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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