SolarEdge Technologies (NASDAQ:SEDG) Stock Moved Down to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to a sell rating in a report published on Monday,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. TD Cowen cut their price target on SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, July 20th. UBS Group upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a research note on Wednesday, August 26th. Royal Bank Of Canada lowered their price objective on SolarEdge Technologies from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Friday. Barclays dropped their price objective on SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Finally, Weiss Ratings upgraded SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Reduce” and a consensus target price of $36.93.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $27.66 on Monday. SolarEdge Technologies has a 52 week low of $25.25 and a 52 week high of $81.25. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -7.28 and a beta of 1.31. The firm’s 50-day simple moving average is $32.58 and its 200 day simple moving average is $42.09. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.38 and a current ratio of 2.12.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.25. SolarEdge Technologies had a negative net margin of 17.34% and a negative return on equity of 19.80%. The firm had revenue of $325.40 million during the quarter, compared to the consensus estimate of $326.78 million. During the same quarter in the previous year, the firm posted ($0.31) EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD lifted its stake in SolarEdge Technologies by 59.2% during the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 886,085 shares of the semiconductor company’s stock worth $28,240,000 after purchasing an additional 329,500 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of SolarEdge Technologies by 59.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,693,340 shares of the semiconductor company’s stock valued at $85,836,000 after purchasing an additional 1,002,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of SolarEdge Technologies by 2.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 247,787 shares of the semiconductor company’s stock worth $7,897,000 after buying an additional 7,092 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of SolarEdge Technologies by 53.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 13,607 shares of the semiconductor company’s stock worth $434,000 after buying an additional 4,723 shares in the last quarter. Finally, Ethic Inc. bought a new stake in shares of SolarEdge Technologies during the 3rd quarter worth $220,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies develops smart energy technologies for residential, commercial and utility-scale applications. Founded in 2006, the company is known for its DC-optimized inverter system, which combines power optimizers with inverters to help manage solar energy production at the panel level.

Its product portfolio includes solar inverters and power optimizers, energy storage systems, monitoring and energy-management software, electric-vehicle charging equipment and related services.