Morgan Stanley Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $23.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Morgan Stanley from $28.00 to $23.00 in a research report released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on SEDG. Scotiabank cut their price objective on shares of SolarEdge Technologies from $46.00 to $41.00 and set a sector perform rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada cut their price objective on shares of SolarEdge Technologies from $37.00 to $35.00 and set a sector perform rating on the stock in a report on Thursday, August 8th. Roth Mkm lowered their price objective on shares of SolarEdge Technologies from $27.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on SolarEdge Technologies from $40.00 to $25.00 and set a hold rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen cut their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a buy rating on the stock in a report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has an average rating of Hold and a consensus price target of $46.81.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $19.46 on Tuesday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $22.24 and its 200-day moving average price is $37.64. The firm has a market cap of $1.12 billion, a P/E ratio of -2.16 and a beta of 1.56. SolarEdge Technologies has a 12 month low of $17.12 and a 12 month high of $130.38.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The business had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company’s revenue for the quarter was down 73.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 EPS. On average, equities research analysts expect that SolarEdge Technologies will post -8.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $667,000. Point72 Europe London LLP purchased a new stake in SolarEdge Technologies in the 4th quarter valued at about $834,000. Brevan Howard Capital Management LP lifted its position in SolarEdge Technologies by 110.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after buying an additional 20,654 shares during the last quarter. Firsthand Capital Management Inc. boosted its stake in SolarEdge Technologies by 7.7% during the fourth quarter. Firsthand Capital Management Inc. now owns 14,000 shares of the semiconductor company’s stock worth $1,217,000 after buying an additional 1,000 shares during the period. Finally, Vancity Investment Management Ltd increased its position in shares of SolarEdge Technologies by 3.3% during the fourth quarter. Vancity Investment Management Ltd now owns 18,536 shares of the semiconductor company’s stock valued at $1,735,000 after acquiring an additional 586 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.