StockNews.com Downgrades SolarEdge Technologies (NASDAQ:SEDG) to Sell

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of SolarEdge Technologies from $131.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of SolarEdge Technologies from $215.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday. Wolfe Research cut shares of SolarEdge Technologies from an “outperform” rating to a “peer perform” rating in a research report on Friday. Johnson Rice cut shares of SolarEdge Technologies from an “accumulate” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $140.00 in a research report on Friday, October 20th. Finally, Truist Financial cut shares of SolarEdge Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $70.00 in a research report on Thursday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.80.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $75.60 on Friday. The firm has a market cap of $4.28 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 0.69 and a beta of 1.58. SolarEdge Technologies has a 12-month low of $63.25 and a 12-month high of $345.80. The company has a quick ratio of 2.75, a current ratio of 3.85 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $124.70 and its two-hundred day simple moving average is $211.19.

Insider Activity

In other news, CFO Ronen Faier purchased 875 shares of the stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $180.10 per share, with a total value of $157,587.50. Following the acquisition, the chief financial officer now directly owns 73,414 shares of the company’s stock, valued at $13,221,861.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SEDG. NBC Securities Inc. bought a new position in SolarEdge Technologies in the 3rd quarter worth $25,000. Alta Advisers Ltd bought a new position in SolarEdge Technologies in the 2nd quarter worth $27,000. V Square Quantitative Management LLC bought a new position in SolarEdge Technologies in the 2nd quarter worth $27,000. Quarry LP bought a new position in SolarEdge Technologies in the 1st quarter worth $27,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in SolarEdge Technologies by 173.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 213 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 135 shares during the period. 86.11% of the stock is owned by institutional investors.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.