SolarEdge Technologies (NASDAQ:SEDG) Cut to Underperform at BNP Paribas Exane

BNP Paribas Exane lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a neutral rating to an underperform rating in a report released on Wednesday, MarketBeat.com reports. They currently have $17.00 price objective on the semiconductor company’s stock.

SEDG has been the subject of several other research reports. Northland Securities upgraded shares of SolarEdge Technologies from an “under perform” rating to a “market perform” rating and set a $15.50 price target for the company in a research report on Friday, May 23rd. Canaccord Genuity Group boosted their target price on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. Morgan Stanley reissued an “underweight” rating and issued a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.36.

SolarEdge Technologies Stock Up 5.4%

SolarEdge Technologies stock opened at $26.62 on Wednesday. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $31.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -0.88 and a beta of 1.62. The firm has a fifty day moving average price of $20.77 and a two-hundred day moving average price of $16.93.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the prior year, the business posted ($1.90) earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts forecast that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SEDG. Edmond DE Rothschild Holding S.A. raised its position in shares of SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 600 shares in the last quarter. Fifth Third Bancorp raised its position in SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 790 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Banque Cantonale Vaudoise acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $35,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,954 shares in the last quarter. Institutional investors and hedge funds 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.