SolarEdge Technologies, Inc. (NASDAQ:SEDG) Given Average Recommendation of “Reduce” by Brokerages

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned a consensus rating of “Reduce” from the twenty-nine brokerages that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.16.

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $11.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen cut their target price on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their price target on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently made changes to their positions in SEDG. GAMMA Investing LLC grew its position in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 4,567 shares during the period. Tidal Investments LLC grew its holdings in shares of SolarEdge Technologies by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock worth $1,463,000 after purchasing an additional 10,515 shares during the period. Geode Capital Management LLC increased its position in shares of SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of SolarEdge Technologies during the 3rd quarter worth about $278,000. Finally, Two Sigma Advisers LP raised its holdings in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after buying an additional 3,400 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $14.71 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $87.98. The company’s 50 day moving average is $13.99 and its 200 day moving average is $19.67. The company has a market cap of $852.44 million, a PE ratio of -0.51 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same period last year, the business earned ($1.03) EPS. On average, sell-side analysts forecast that SolarEdge Technologies will post -19.18 EPS for the current year.

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.