SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $29.00 at JPMorgan Chase & Co.

SolarEdge Technologies (NASDAQ:SEDG) had its price objective decreased by JPMorgan Chase & Co. from $35.00 to $29.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other brokerages have also commented on SEDG. Guggenheim lowered shares of SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 price target for the company. in a report on Thursday, October 17th. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Glj Research lowered SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. TD Cowen restated a “hold” rating and issued a $16.00 target price (down previously from $35.00) on shares of SolarEdge Technologies in a research report on Monday. Finally, Canaccord Genuity Group reduced their price objective on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Seven research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.52.

SolarEdge Technologies Stock Down 15.0 %

SEDG stock opened at $14.95 on Wednesday. SolarEdge Technologies has a one year low of $14.89 and a one year high of $103.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm’s fifty day moving average is $21.40 and its 200 day moving average is $34.57. The firm has a market cap of $856.35 million, a PE ratio of -1.66 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same quarter in the prior year, the firm earned $2.06 EPS. SolarEdge Technologies’s revenue for the quarter was down 73.2% on a year-over-year basis. On average, research analysts forecast that SolarEdge Technologies will post -8.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 289 shares during the period. Trillium Asset Management LLC raised its holdings in shares of SolarEdge Technologies by 1.6% in the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after buying an additional 427 shares during the period. Yelin Lapidot Holdings Management Ltd. lifted its stake in SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 564 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock valued at $3,525,000 after acquiring an additional 585 shares during the period. Finally, Swiss National Bank grew its position in SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.