SolarEdge Technologies’ (SEDG) Underweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report sent to investors on Friday, MarketBeat.com reports. Morgan Stanley currently has a $9.00 price target on the semiconductor company’s stock, down from their previous price target of $23.00.

A number of other research firms also recently weighed in on SEDG. Scotiabank reduced their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. UBS Group reduced their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group lowered their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Bank of America downgraded SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their target price for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Finally, Susquehanna decreased their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Ten equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.79.

SolarEdge Technologies Stock Up 2.0 %

SEDG stock opened at $10.85 on Friday. The company has a market cap of $628.76 million, a price-to-earnings ratio of -0.37 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The business’s 50-day moving average is $18.05 and its two-hundred day moving average is $28.56. SolarEdge Technologies has a fifty-two week low of $10.37 and a fifty-two week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. During the same period in the prior year, the firm posted ($1.03) EPS. The business’s revenue for the quarter was down 64.0% on a year-over-year basis. As a group, analysts forecast that SolarEdge Technologies will post -17.69 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman More Avery purchased 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of large investors have recently added to or reduced their stakes in SEDG. Mizuho Markets Americas LLC grew its stake in shares of SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after acquiring an additional 163,340 shares in the last quarter. Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares during the last quarter. AMG National Trust Bank acquired a new stake in SolarEdge Technologies during the 3rd quarter valued at approximately $4,055,000. DekaBank Deutsche Girozentrale acquired a new stake in SolarEdge Technologies during the 3rd quarter valued at approximately $1,495,000. Finally, E. Ohman J or Asset Management AB increased its holdings in SolarEdge Technologies by 109.3% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock worth $8,559,000 after purchasing an additional 195,085 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.