SolarEdge Technologies (NASDAQ:SEDG) Stock Lifted to Hold by Wall Street Zen

Wall Street Zen upgraded shares of SolarEdge Technologies (NASDAQ:SEDG) from a sell rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

SEDG has been the subject of a number of other reports. Morgan Stanley reduced their target price on shares of SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of SolarEdge Technologies from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. UBS Group raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $42.00 in a research note on Wednesday, August 26th. The Goldman Sachs Group decreased their target price on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a report on Thursday, August 6th. Finally, Susquehanna dropped their price target on shares of SolarEdge Technologies from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $38.53.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $30.05 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38. SolarEdge Technologies has a 12 month low of $28.11 and a 12 month high of $81.25. The company has a fifty day moving average price of $32.87 and a two-hundred day moving average price of $42.23. The company has a market cap of $1.85 billion, a PE ratio of -6.68 and a beta of 1.44.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The firm had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. During the same quarter in the previous year, the business posted ($0.81) earnings per share. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Research analysts expect that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SolarEdge Technologies by 0.7% during the second quarter. State Street Corp now owns 1,761,901 shares of the semiconductor company’s stock valued at $102,965,000 after buying an additional 12,188 shares in the last quarter. Legal & General Group Plc bought a new stake in SolarEdge Technologies in the 2nd quarter valued at $76,095,000. Handelsbanken Fonder AB lifted its holdings in shares of SolarEdge Technologies by 16.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,230,401 shares of the semiconductor company’s stock worth $71,905,000 after acquiring an additional 175,281 shares during the period. Meitav Investment House Ltd. lifted its holdings in SolarEdge Technologies by 541.6% during the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock worth $51,946,000 after buying an additional 858,954 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in SolarEdge Technologies during the 2nd quarter worth approximately $55,514,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.