Barclays Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price raised by Barclays from $11.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price target would indicate a potential downside of 42.91% from the company’s current price.

SEDG has been the subject of a number of other research reports. Susquehanna lowered their price target on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Guggenheim reaffirmed a “sell” rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Northland Capmk upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, May 23rd. BMO Capital Markets cut shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Finally, Royal Bank of Canada increased their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

SolarEdge Technologies Stock Performance

SEDG opened at $21.02 on Wednesday. The company has a market cap of $1.24 billion, a P/E ratio of -0.67 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $15.87 and its 200-day moving average price is $15.38. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $45.16.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. SolarEdge Technologies’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.90) EPS. As a group, equities analysts anticipate that SolarEdge Technologies will post -4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of SolarEdge Technologies in the fourth quarter worth about $227,000. Principal Financial Group Inc. raised its holdings in SolarEdge Technologies by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 277,832 shares of the semiconductor company’s stock valued at $3,779,000 after acquiring an additional 11,704 shares during the last quarter. Private Advisor Group LLC purchased a new position in SolarEdge Technologies in the 4th quarter worth approximately $161,000. Meitav Investment House Ltd. boosted its holdings in shares of SolarEdge Technologies by 0.6% during the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 3,282 shares during the last quarter. Finally, RWC Asset Management LLP purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $173,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.