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Most Trending
-1.74%
+10.81%
+0.59%
-19.39%
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SolarEdge's stock price continues to decline, with Barclays recently downgrading its recommendation. The stock has lost almost 60% of its value since the beginning of the year and 67% since its peak in November 2021.
Barclays recently downgraded its recommendation for SolarEdge stock from "overweight" to "market yield" and lowered its target price from $275 to $152. However, this target price is still 24% higher than the stock's current price on Nasdaq.
According to the Wall Street Journal, analysts covering SolarEdge stock have an average target price of approximately $269, which is more than twice the current stock price. While last month, 28 analysts had positive recommendations on the stock, 7 were neutral, and 1 was negative, today there are 25 positive recommendations, 8 neutral recommendations, and 1 negative recommendation.
Barclays downgraded its recommendation for SolarEdge stock due to challenges that the company is facing, including a lower average selling price for its products, a loss of market share, and negative effects from fluctuations in foreign exchange rates. These challenges are expected to remain beyond the short term.
Barclays also noted that SolarEdge gained market share in the first few months of the year, but is now losing market share. They added that even with the reduction in inventory, next year will still be challenging, with a loss of market share and lower prices.
The share price is similar to the pre-corona epidemic despite an improvement in the company's results since then. The latest decline came amid investors' concerns about a slowdown in the rate of growth at the end of the year and in 2024, due to an increase in stocks in the market. This comes as a result of the combination of high interest rates, the drop in electricity prices from the 2022 peaks, stricter regulation in the US and recently - due to the increase in the supply of solar panels from China, leading to a sharp drop in panel prices by about 50%.
Despite a possible decline in demand, we believe that SolarEdge will be able to maintain or even improve its cash generation rate, and that it will be well-positioned for a rebound in the solar market. This is the consensus view among analysts who cover the company.
Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
