SolarEdge Technologies (NASDAQ:SEDG) Stock Price Target Lowered at Barclays

SolarEdge Technologies (NASDAQ:SEDG) had its target price decreased by equities research analysts at Barclays from $37.00 to $36.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price target would suggest a potential upside of 11.63% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wall Street Zen downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $42.00 in a research report 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 research note on Thursday, August 6th. Mizuho upped their price target on SolarEdge Technologies from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of SolarEdge Technologies from $37.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $39.13.

SolarEdge Technologies Stock Down 5.3%

Shares of SEDG traded down $1.79 during midday trading on Wednesday, reaching $32.25. The stock had a trading volume of 635,720 shares, compared to its average volume of 3,408,463. SolarEdge Technologies has a 1-year low of $28.21 and a 1-year high of $81.25. The company’s fifty day simple moving average is $34.12 and its two-hundred day simple moving average is $45.78. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -7.17 and a beta of 1.44. 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 (NASDAQ:SEDG) last released its quarterly earnings data 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. The business had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.81) EPS. Equities research analysts expect that SolarEdge Technologies will post -1.27 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in SEDG. Allworth Financial LP purchased a new position in shares of SolarEdge Technologies during the second quarter worth about $31,000. Nykredit A S purchased a new stake in SolarEdge Technologies during the 2nd quarter valued at approximately $36,000. Public Employees Retirement System of Ohio purchased a new stake in SolarEdge Technologies during the 2nd quarter valued at approximately $72,000. State of Wyoming raised its stake in SolarEdge Technologies by 32.9% during the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 306 shares during the last quarter. Finally, EFG International AG acquired a new stake in SolarEdge Technologies during the 2nd quarter worth approximately $123,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

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.