SolarEdge Technologies (NASDAQ:SEDG) Given New $56.00 Price Target at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by analysts at BMO Capital Markets from $73.00 to $56.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 5.70% from the stock’s previous close.

Other analysts have also issued reports about the company. B. Riley decreased their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Canaccord Genuity Group initiated coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective for the company. Mizuho cut their target price on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, April 19th. The Goldman Sachs Group decreased their price target on shares of SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating for the company in a research note on Thursday. Finally, Piper Sandler dropped their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.08.

SolarEdge Technologies Trading Down 7.9 %

Shares of SolarEdge Technologies stock traded down $4.57 on Thursday, reaching $52.98. 4,255,531 shares of the company’s stock were exchanged, compared to its average volume of 2,361,551. The firm’s 50-day moving average is $64.59 and its two-hundred day moving average is $74.00. The company has a market capitalization of $3.04 billion, a P/E ratio of 120.11 and a beta of 1.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies has a 52 week low of $51.65 and a 52 week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The business had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. Sell-side analysts predict that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in SolarEdge Technologies during the third quarter valued at about $25,000. Manchester Capital Management LLC grew its position in shares of SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC bought a new position in SolarEdge Technologies in the 4th quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 640 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.