SolarEdge Technologies (NASDAQ:SEDG) Has a Neutral Rating at Bank of America

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) was raised by Bank of America from an “underperform” rating to a “neutral” rating in a report on Monday, Benzinga reports. The firm currently has a $29.00 price target on shares of the semiconductor company. Bank of America’s price target would suggest a potential upside of 15.77% from the company’s current price.

Several other equities analysts have also recently commented on SEDG. Wells Fargo & Company lowered their price objective for SolarEdge Technologies from $62.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Susquehanna lowered SolarEdge Technologies from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $56.00 in a research note on Monday, May 13th. Goldman Sachs Group lowered their price objective for SolarEdge Technologies from $49.00 to $25.00 and gave the company a “sell” rating in a research report on Thursday, June 27th. Morgan Stanley lowered their price objective for SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 26. Finally, Barclays raised their price objective for SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, April 16. Three research analysts have rated the stock with a sell rating, twenty-five have rated it a hold, and four have given the stock a buy rating. The company has an average rating of “Hold” and a consensus price target of $74.50 according to MarketBeat.

Get our latest stock analysis on SEDG

SolarEdge Technologies shares fall 1.1%

Shares of SEDG opened at $25.05 on Monday. SolarEdge Technologies has a yearly low of $23.51 and a yearly high of $288.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -5.39 and a beta of 1.52. The company has a 50-day simple moving average of $44.40 and a two-hundred day simple moving average of $62.56.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. Research analysts predict that SolarEdge Technologies will post -6.52 EPS for the current fiscal year.

Institutional inflows and outflows

Hedge funds have recently made changes to their positions in the business. Brevan Howard Capital Management LP increased its position in SolarEdge Technologies by 110.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock worth $3,685,000 after acquiring an additional 20,654 shares during the period. Albion Financial Group UT increased its holdings in SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 955 shares in the last quarter. International Assets Investment Management LLC increased its holdings in SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after purchasing an additional 103,293 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in SolarEdge Technologies by 371.3% in the fourth quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after purchasing an additional 227,634 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized photovoltaic (PV) inverter systems in the United States, Germany, the Netherlands, Italy, the rest of Europe, and internationally. It operates in two segments: Solar and Energy Storage.

SolarEdge Technologies shares fall 1.1%

Institutional inflows and outflows

About SolarEdge Technologies

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