Citigroup Lowers SolarEdge Technologies (NASDAQ:SEDG) Price Target to $19.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by Citigroup from $31.00 to $19.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, October 8th. Piper Sandler decreased their price target on SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Guggenheim downgraded shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Thursday, October 17th. Finally, DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $31.52.

SolarEdge Technologies Trading Up 5.6 %

NASDAQ SEDG opened at $16.11 on Tuesday. The firm’s 50-day moving average is $21.03 and its two-hundred day moving average is $34.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. SolarEdge Technologies has a 12 month low of $14.82 and a 12 month high of $103.15. The stock has a market capitalization of $923.09 million, a P/E ratio of -3.46 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the company earned $2.06 earnings per share. SolarEdge Technologies’s quarterly revenue was down 73.2% on a year-over-year basis. On average, sell-side analysts anticipate that SolarEdge Technologies will post -8.78 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 90.0% in the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 289 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of SolarEdge Technologies in the 1st quarter worth approximately $64,000. Hexagon Capital Partners LLC increased its position in shares of SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 610 shares in the last quarter. Finally, First Pacific Financial raised its holdings in shares of SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.