SolarEdge Technologies (NASDAQ:SEDG) Lowered to “Under Perform” Rating by Northland Securities

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by Northland Securities from a “market perform” rating to an “under perform” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $15.00 price objective on the semiconductor company’s stock. Northland Securities’ target price suggests a potential downside of 23.59% from the company’s previous close.

Several other analysts also recently weighed in on the company. Susquehanna lowered their price objective on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group upped their target price on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Roth Mkm decreased their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their target price on SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.07.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $19.63 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $84.69. The stock has a 50 day moving average price of $14.40 and a two-hundred day moving average price of $17.29. The company has a market capitalization of $1.14 billion, a P/E ratio of -0.68 and a beta of 1.56.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Invesco Ltd. grew its position in shares of SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after purchasing an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in SolarEdge Technologies during the 4th quarter valued at approximately $17,909,000. Legal & General Group Plc grew its holdings in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after buying an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after buying an additional 16,258 shares in 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.