Northland Capmk Upgrades SolarEdge Technologies (NASDAQ:SEDG) to Hold

Northland Capmk upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a strong sell rating to a hold rating in a research report report published on Friday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on SEDG. JPMorgan Chase & Co. lowered their price target 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. Morgan Stanley restated an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Truist Financial decreased their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating on the stock in a research report on Thursday, January 16th. Roth Mkm lifted their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Finally, Guggenheim reissued a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and an average target price of $16.82.

SolarEdge Technologies Stock Up 1.2 %

NASDAQ:SEDG traded up $0.15 on Friday, hitting $12.84. 2,344,499 shares of the company's stock traded hands, compared to its average volume of 4,252,405. The company has a market cap of $758.11 million, a PE ratio of -0.41 and a beta of 1.63. The firm has a 50-day moving average price of $15.10 and a 200-day moving average price of $14.81. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $64.04. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $227,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of SolarEdge Technologies in the fourth quarter worth approximately $257,000. Assenagon Asset Management S.A. lifted its stake in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in SolarEdge Technologies by 79.6% in the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock worth $8,537,000 after purchasing an additional 278,200 shares in the last quarter. Institutional investors and hedge funds 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.