SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

SolarEdge Technologies (NASDAQ:SEDG) had its price target lowered by research analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 29.43% from the stock’s current price.

SEDG has been the topic of a number of other reports. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 15th. Barclays raised their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 14th. BMO Capital Markets decreased their target price on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, November 7th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Finally, Truist Financial decreased their price objective on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.84.

SolarEdge Technologies Trading Up 8.1 %

NASDAQ SEDG opened at $14.68 on Thursday. The firm’s fifty day moving average price is $13.96 and its 200 day moving average price is $18.97. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $87.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The company has a market capitalization of $850.71 million, a price-to-earnings ratio of -0.51 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data 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 return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same period in the previous year, the business posted ($1.03) EPS. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. On average, sell-side analysts expect that SolarEdge Technologies will post -23.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $61,000. Harel Insurance Investments & Financial Services Ltd. increased its position in SolarEdge Technologies by 0.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock worth $13,760,000 after buying an additional 8,079 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of SolarEdge Technologies in the fourth quarter worth $260,000. Janney Montgomery Scott LLC purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at $227,000. Finally, SG Americas Securities LLC boosted its stake in shares of SolarEdge Technologies by 592.3% during the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company’s stock valued at $1,873,000 after acquiring an additional 117,841 shares during the last quarter. 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.