SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $86.38 Average Price Target from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Free Report) have received a consensus rating of “Hold” from the thirty-one ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, twenty-four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $86.38.

Several research firms recently weighed in on SEDG. Northland Capmk cut shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Bank of America decreased their price target on shares of SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating on the stock in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating for the company in a report on Friday, May 10th. Northland Securities cut SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Finally, Mizuho dropped their price target on SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, May 10th.

Read Our Latest Analysis on SolarEdge Technologies

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $49.32 on Tuesday. SolarEdge Technologies has a 1-year low of $46.86 and a 1-year high of $306.86. 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 firm has a market capitalization of $2.83 billion, a PE ratio of -10.61 and a beta of 1.53. The firm’s 50 day simple moving average is $58.81 and its 200 day simple moving average is $71.10.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last released 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). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. As a group, analysts expect that SolarEdge Technologies will post -6.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SEDG. Yelin Lapidot Holdings Management Ltd. grew its stake in SolarEdge Technologies by 0.6% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after purchasing an additional 130 shares during the period. Liberty One Investment Management LLC increased its stake in shares of SolarEdge Technologies by 4.2% in the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after acquiring an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of SolarEdge Technologies by 194.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares in the last quarter. South Street Advisors LLC lifted its position in SolarEdge Technologies by 2.9% during the 3rd quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 185 shares during the period. Finally, Metis Global Partners LLC boosted its stake in SolarEdge Technologies by 3.9% during the third quarter. Metis Global Partners LLC now owns 5,062 shares of the semiconductor company’s stock worth $656,000 after acquiring an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

(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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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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