Wall Street Zen Upgrades SolarEdge Technologies (NASDAQ:SEDG) to “Hold”

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $23.00 price target (up previously from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $27.00 price target on shares of SolarEdge Technologies in a report on Wednesday, July 9th. Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. BNP Paribas upgraded SolarEdge Technologies to a “strong sell” rating in a research report on Wednesday, July 16th. Finally, Northland Securities upgraded SolarEdge Technologies from an “under perform” rating to a “market perform” rating and set a $15.50 price objective on the stock in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.70.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $24.94 on Friday. The business’s 50-day moving average price is $23.27 and its two-hundred day moving average price is $18.24. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $32.45. The stock has a market cap of $1.48 billion, a P/E ratio of -0.83 and a beta of 1.56. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.72.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share for the quarter, meeting the consensus estimate of ($0.81). SolarEdge Technologies had a negative return on equity of 191.53% and a negative net margin of 177.64%. The firm had revenue of $289.43 million for the quarter, compared to analysts’ expectations of $270.03 million. During the same quarter last year, the firm posted ($1.79) EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of SolarEdge Technologies by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company’s stock worth $48,993,000 after buying an additional 126,246 shares during the last quarter. Invesco Ltd. grew its position in shares of SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after buying an additional 116,809 shares during the last quarter. Ion Asset Management Ltd. grew its position in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company’s stock worth $33,695,000 after buying an additional 1,199,801 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth approximately $17,909,000. Finally, Legal & General Group Plc grew its position in shares of SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after buying an additional 512,035 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.