SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report) fell 3.1% on Thursday after The Goldman Sachs Group lowered their price target on the stock from $83.00 to $71.00. The Goldman Sachs Group currently has a sell rating on the stock. SolarEdge Technologies traded as low as $67.95 and last traded at $68.02. 437,560 shares changed hands during trading, a decline of 84% from the average session volume of 2,693,207 shares. The stock had previously closed at $70.20.
SEDG has been the subject of a number of other research reports. Canaccord Genuity Group began coverage on shares of SolarEdge Technologies in a research note on Tuesday, January 16th. They issued a “hold” rating and a $80.00 target price for the company. BMO Capital Markets cut shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $111.00 to $68.00 in a research report on Thursday, November 2nd. Johnson Rice cut shares of SolarEdge Technologies from an “accumulate” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $140.00 in a research report on Friday, October 20th. Oppenheimer cut shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, October 20th. Finally, Northland Securities upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $147.00 target price for the company in a research report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and an average price target of $136.96.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake 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 worth $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. grew its position in SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 108.5% during 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 purchasing an additional 778,034 shares during the last quarter. Geode Capital Management LLC grew its position in SolarEdge Technologies by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,005,554 shares of the semiconductor company’s stock valued at $269,702,000 after purchasing an additional 30,149 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in SolarEdge Technologies by 46.3% during the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after purchasing an additional 297,089 shares during the last quarter. 86.11% of the stock is currently owned by institutional investors.
SolarEdge Technologies Stock Down 3.2 %
The company’s 50-day moving average is $82.71 and its 200 day moving average is $129.36. The company has a market capitalization of $3.86 billion, a PE ratio of 19.18 and a beta of 1.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.49 and a current ratio of 3.84.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported ($1.03) EPS for the quarter, missing the consensus estimate of $0.23 by ($1.26). The firm had revenue of $725.31 million for the quarter, compared to analysts’ expectations of $766.65 million. SolarEdge Technologies had a net margin of 6.13% and a return on equity of 14.14%. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post 1.57 EPS for the current year.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.