SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by Northland Capmk

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by research analysts at Northland Capmk from a “hold” rating to a “strong sell” rating in a report released on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Morgan Stanley restated an “underweight” rating and issued a $10.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Northland Securities lowered shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.50 price target on the stock. in a report on Friday. JPMorgan Chase & Co. cut their target price on SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial dropped their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Twelve investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.44.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $22.02 on Friday. The business has a 50 day simple moving average of $15.06 and a 200 day simple moving average of $14.77. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $53.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -0.71 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The company had revenue of $219.48 million during the quarter, compared to analysts’ expectations of $205.39 million. During the same period last year, the business earned ($1.90) EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently modified their holdings of SEDG. Assenagon Asset Management S.A. raised its holdings in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares during the period. SG Americas Securities LLC raised its holdings in shares of SolarEdge Technologies by 592.3% in the 4th quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company’s stock worth $1,873,000 after purchasing an additional 117,841 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth approximately $227,000. Exchange Traded Concepts LLC purchased a new position in SolarEdge Technologies in the 4th quarter valued at approximately $260,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in SolarEdge Technologies by 0.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock valued at $13,760,000 after buying an additional 8,079 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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.