SolarEdge Technologies (NASDAQ:SEDG) Rating Lowered to “Under Perform” at Northland Securities

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by equities research analysts at Northland Securities from a “market perform” rating to an “under perform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $15.00 price objective on the semiconductor company’s stock. Northland Securities’ price objective points to a potential downside of 14.87% from the company’s previous close.

Several other brokerages have also recently weighed in on SEDG. The Goldman Sachs Group raised their price target 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. Barclays increased their price objective on SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Finally, Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.65.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $17.62 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. The company has a market cap of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. The company’s 50-day moving average is $14.59 and its two-hundred day moving average is $17.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. International Assets Investment Management LLC grew its position in SolarEdge Technologies by 2,191.0% in the third quarter. International Assets Investment Management LLC now owns 25,407 shares of the semiconductor company’s stock valued at $582,000 after acquiring an additional 24,298 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of SolarEdge Technologies by 56.6% during the third quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock valued at $7,093,000 after purchasing an additional 111,944 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of SolarEdge Technologies by 109.3% during the third quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock valued at $8,559,000 after purchasing an additional 195,085 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SolarEdge Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 2,500 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of SolarEdge Technologies in the third quarter worth approximately $1,495,000. 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.