SolarEdge Technologies (NASDAQ:SEDG) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of SolarEdge Technologies (NASDAQ:SEDGFree Report) in a research note released on Friday morning, Benzinga reports. The firm currently has a $71.00 price objective on the semiconductor company’s stock.

Several other research firms have also commented on SEDG. TD Cowen lowered their price target on SolarEdge Technologies from $85.00 to $80.00 and set a buy rating for the company in a research report on Thursday, May 9th. Truist Financial dropped their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a hold rating for the company in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of SolarEdge Technologies from $75.00 to $55.00 and set a hold rating for the company in a research note on Friday, May 10th. Scotiabank reduced their price target on SolarEdge Technologies from $93.00 to $90.00 and set a sector perform rating on the stock in a research report on Wednesday, February 21st. Finally, Bank of America lowered their price objective on SolarEdge Technologies from $54.00 to $44.00 and set an underperform rating for the company in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $86.38.

View Our Latest Stock Report on SEDG

SolarEdge Technologies Stock Down 4.2 %

Shares of SEDG opened at $46.29 on Friday. The company’s 50-day moving average price is $56.49 and its 200 day moving average price is $69.79. SolarEdge Technologies has a 12-month low of $46.05 and a 12-month high of $293.39. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.65 billion, a P/E ratio of -9.95 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The company had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. On average, sell-side analysts forecast that SolarEdge Technologies will post -6.08 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the stock. Yelin Lapidot Holdings Management Ltd. boosted its holdings in SolarEdge Technologies by 0.6% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after buying an additional 130 shares in the last quarter. Liberty One Investment Management LLC lifted its position in shares of SolarEdge Technologies by 4.2% during the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock valued at $345,000 after acquiring an additional 148 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares in the last quarter. South Street Advisors LLC grew its holdings in shares of SolarEdge Technologies by 2.9% in the 3rd quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock worth $843,000 after acquiring an additional 185 shares during the period. Finally, NBC Securities Inc. purchased a new position in SolarEdge Technologies in the 3rd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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