SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by BMO Capital Markets

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research report issued on Thursday, Marketbeat reports. They presently have a $15.00 target price on the semiconductor company’s stock, up from their prior target price of $13.00. BMO Capital Markets’ price target indicates a potential downside of 14.87% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. UBS Group dropped their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Canaccord Genuity Group raised their target price on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Trading Down 3.1 %

Shares of SEDG opened at $17.62 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $17.24. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $78.40. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of SolarEdge Technologies by 14.9% in 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 acquiring an additional 641,915 shares in the last quarter. Invesco Ltd. lifted its stake in SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after purchasing an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $17,909,000. Legal & General Group Plc lifted its stake in SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after purchasing an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in SolarEdge Technologies by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after purchasing an additional 16,258 shares during the last quarter. 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.