SolarEdge Technologies (NASDAQ:SEDG) Cut to Underperform at BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was downgraded by stock analysts at BMO Capital Markets from a "market perform" rating to an "underperform" rating in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $15.00 price target on the semiconductor company's stock, up from their previous price target of $13.00. BMO Capital Markets' target price would indicate a potential downside of 14.87% from the stock's previous close.

A number of other brokerages also recently issued reports on SEDG. StockNews.com raised shares of SolarEdge Technologies to a "sell" rating in a report on Friday, November 8th. Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Mizuho cut SolarEdge Technologies from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $35.00 to $11.00 in a report on Thursday, November 7th. Piper Sandler downgraded SolarEdge Technologies from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $17.00 to $9.00 in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on SolarEdge Technologies from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of "Hold" and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock traded down $0.57 during midday trading on Thursday, hitting $17.62. 5,092,808 shares of the company were exchanged, compared to its average volume of 4,927,211. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40. The firm has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. The business has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $17.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently added to or reduced their stakes in SEDG. PharVision Advisers LLC acquired a new stake in shares of SolarEdge Technologies in the 4th quarter worth $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company's stock valued at $3,282,000 after purchasing an additional 15,549 shares during the period. Voloridge Investment Management LLC increased its position in SolarEdge Technologies by 1.4% during the fourth quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company's stock worth $11,780,000 after purchasing an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new position in SolarEdge Technologies during the fourth quarter worth about $816,000. Finally, Two Sigma Advisers LP boosted its holdings in SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company's stock valued at $15,781,000 after purchasing an additional 18,300 shares during the last quarter. Hedge funds and other 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.