SolarEdge Technologies (NASDAQ:SEDG) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report report published on Friday morning, Benzinga reports. They currently have a $71.00 target price on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on SEDG. Roth Mkm reduced their price target on SolarEdge Technologies from $76.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft reduced their price target on SolarEdge Technologies from $75.00 to $55.00 and set a hold rating on the stock in a research note on Friday, May 10th. Truist Financial dropped their target price on SolarEdge Technologies from $80.00 to $75.00 and set a hold rating on the stock in a report on Thursday, February 22nd. Northland Capmk downgraded SolarEdge Technologies from a strong-buy rating to a hold rating in a report on Thursday, May 9th. Finally, Bank of America dropped their target price on SolarEdge Technologies from $54.00 to $44.00 and set an underperform rating on the stock in a report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $86.38.

SolarEdge Technologies Price Performance

SEDG opened at $46.89 on Friday. The stock has a market capitalization of $2.69 billion, a PE ratio of -9.90 and a beta of 1.62. The stock’s 50 day moving average price is $56.49 and its 200-day moving average price is $69.73. SolarEdge Technologies has a 52-week low of $44.07 and a 52-week high of $292.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54.

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

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. purchased a new stake in SolarEdge Technologies in the third quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC increased its position in SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after buying an additional 183 shares in the last quarter. Manchester Capital Management LLC increased its position in SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $30,000. Finally, Compagnie Lombard Odier SCmA increased its position in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors 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.