SolarEdge Technologies (NASDAQ:SEDG) Raised to Hold at Wall Street Zen

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

A number of other research firms also recently commented on SEDG. The Goldman Sachs Group reduced their price objective on shares of SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada lifted their target price on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, September 11th. Weiss Ratings raised shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Susquehanna dropped their price target on shares of SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Finally, Barclays dropped their price target on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Reduce” and a consensus target price of $39.13.

SolarEdge Technologies Stock Performance

SEDG opened at $31.48 on Friday. The stock’s 50 day simple moving average is $33.37 and its 200-day simple moving average is $45.34. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The stock has a market cap of $1.94 billion, a PE ratio of -7.00 and a beta of 1.44. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%. The firm had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $341.15 million. During the same period last year, the business earned ($0.81) earnings per share. SolarEdge Technologies’s quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts forecast that SolarEdge Technologies will post -1.20 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP bought a new stake in SolarEdge Technologies in the 2nd quarter valued at $31,000. Nykredit A S bought a new position in SolarEdge Technologies during the 2nd quarter worth about $36,000. Public Employees Retirement System of Ohio acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $72,000. State of Wyoming raised its stake in shares of SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 306 shares during the period. Finally, EFG International AG acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $123,000. 95.10% of the stock is currently owned by institutional investors.

About SolarEdge Technologies

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.