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

Northland Securities lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a market perform rating to an under perform rating in a report released on Thursday, MarketBeat reports. Northland Securities currently has $15.00 price target on the semiconductor company’s stock.

SEDG has been the topic of several other reports. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. TD Cowen lowered their target price on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $11.00 to $18.00 in a research note on Thursday. The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies Stock Down 7.3 %

SEDG opened at $18.19 on Thursday. The company has a 50 day moving average of $14.50 and a 200 day moving average of $17.29. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $78.40. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the business. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after acquiring an additional 641,915 shares during the last quarter. Invesco Ltd. grew its holdings in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after acquiring an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in SolarEdge Technologies in the 4th quarter worth $17,909,000. Legal & General Group Plc grew its holdings in SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after acquiring an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock worth $17,060,000 after acquiring an additional 16,258 shares during 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.