SolarEdge Technologies (NASDAQ:SEDG) Given New $25.00 Price Target at Royal Bank Of Canada

SolarEdge Technologies (NASDAQ:SEDG) had its price target decreased by Royal Bank Of Canada from $30.00 to $25.00 in a report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on SEDG. Wall Street Zen raised SolarEdge Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Barclays lowered their target price on shares of SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 7th. Morgan Stanley decreased their price target on SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Friday, September 11th. Susquehanna lowered their target price on SolarEdge Technologies from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of SolarEdge Technologies from $29.00 to $25.00 and set a “sell” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned 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 $36.93.

SolarEdge Technologies Stock Up 5.0%

Shares of SEDG stock traded up $1.31 during trading on Friday, reaching $27.51. The company’s stock had a trading volume of 2,787,033 shares, compared to its average volume of 2,438,225. The business has a fifty day moving average price of $32.65 and a 200-day moving average price of $42.12. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -7.24 and a beta of 1.31. SolarEdge Technologies has a one year low of $25.25 and a one year high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.25. The firm had revenue of $325.40 million for the quarter, compared to analyst estimates of $326.78 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) EPS. Analysts anticipate that SolarEdge Technologies will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SEDG. Russell Investments Group Ltd. grew its holdings in SolarEdge Technologies by 2.9% in the third quarter. Russell Investments Group Ltd. now owns 247,787 shares of the semiconductor company’s stock worth $7,897,000 after purchasing an additional 7,092 shares during the period. Maryland State Retirement & Pension System lifted its holdings in SolarEdge Technologies by 53.2% during the third quarter. Maryland State Retirement & Pension System now owns 13,607 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 4,723 shares during the period. Ethic Inc. purchased a new stake in shares of SolarEdge Technologies during the 3rd quarter worth approximately $220,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of SolarEdge Technologies during the 3rd quarter worth $1,912,000. Finally, Counterpoint Mutual Funds LLC increased its holdings in SolarEdge Technologies by 22.1% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 22,526 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 4,083 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SolarEdge Technologies

Here are the key news stories impacting SolarEdge Technologies this week:

• Positive Sentiment: SolarEdge’s quarterly earnings per share beat consensus expectations, helping drive unusually high trading volume. Revenue came in slightly below estimates, tempering the positive result. SolarEdge sees unusually high trading volume on better-than-expected earnings
• Neutral Sentiment: Susquehanna lowered its target from $32 to $31 but maintained a neutral rating; JPMorgan also kept a neutral rating while cutting its target from $38 to $31. Both targets remain above the reference share price. Susquehanna sets new price target
• Negative Sentiment: Royal Bank of Canada cut its target from $30 to $25 and rated the shares sector perform. Citigroup lowered its target from $30 to $24 with a sell rating, while Goldman Sachs cut its target from $29 to $25 and also rated the stock sell. These calls point to limited upside or potential downside. Royal Bank of Canada recommendations
• Negative Sentiment: Weak demand is seen as clouding SolarEdge’s recovery, adding to concerns that a rebound may take longer than hoped. SolarEdge: Weak Demand Clouds The Recovery

About SolarEdge Technologies

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.