SolarEdge Technologies (NASDAQ:SEDG) Sets New 52-Week Low at $46.05

SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $46.05 and last traded at $46.64, with a volume of 311316 shares trading hands. The stock had previously closed at $48.32.

Analysts Set New Price Targets

Several research firms have recently issued reports on SEDG. Barclays raised their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Susquehanna lowered SolarEdge Technologies from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $56.00 in a research note on Monday, May 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 price objective on shares of SolarEdge Technologies in a research note on Friday. The Goldman Sachs Group lowered their price objective on SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating for the company in a research note on Thursday, May 9th. Finally, 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 report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.38.

Read Our Latest Stock Report on SEDG

SolarEdge Technologies Price Performance

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 stock has a market cap of $2.65 billion, a price-to-earnings ratio of -9.95 and a beta of 1.62. The stock has a 50-day moving average price of $56.49 and a two-hundred day moving average price of $69.86.

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

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in SolarEdge Technologies during the 1st quarter worth about $261,312,000. Vanguard Group Inc. lifted its holdings in shares of SolarEdge Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after buying an additional 92,230 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after buying an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after buying an additional 778,034 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock valued at $71,543,000 after buying an additional 23,033 shares during the period. Institutional investors and hedge funds 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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