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

Northland Securities lowered shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a market perform rating to an under perform rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $15.00 price target on the semiconductor company's stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a "hold" rating in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Barclays boosted their price objective on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.65.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded down $0.57 during trading on Thursday, hitting $17.62. 5,092,808 shares of the stock traded hands, compared to its average volume of 4,927,211. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $78.40. The firm has a 50-day simple moving average of $14.59 and a 200-day simple moving average of $17.24. The company has a market capitalization of $1.02 billion, a P/E ratio of -0.56 and a beta of 1.56.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp grew its holdings in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 2,770 shares during the last quarter. R Squared Ltd acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth $61,000. Finally, KBC Group NV increased its position in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 1,378 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.