SolarEdge Technologies (NASDAQ:SEDG) Raised to Market Perform at Northland Securities

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by investment analysts at Northland Securities from an "under perform" rating to a "market perform" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $12.50 price target on the semiconductor company's stock. Northland Securities' price target indicates a potential downside of 1.50% from the stock's previous close.

Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Northland Capmk lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 20th. Piper Sandler upped their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Roth Mkm lifted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group decreased their target price on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research note on Tuesday, April 15th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.82.

SolarEdge Technologies Trading Up 1.0 %

Shares of SEDG traded up $0.13 during mid-day trading on Friday, hitting $12.69. The company had a trading volume of 3,365,052 shares, compared to its average volume of 4,247,779. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $64.04. The business's 50-day simple moving average is $15.20 and its 200-day simple moving average is $14.83. The stock has a market cap of $749.26 million, a PE ratio of -0.41 and a beta of 1.63. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of the company's stock in a transaction that occurred 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 purchase, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SEDG. Fifth Third Bancorp grew its position in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 790 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies during the fourth quarter valued at $27,000. Jones Financial Companies Lllp lifted its stake in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its position in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after acquiring an additional 2,770 shares during the period. Finally, R Squared Ltd acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $61,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.