SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Northland Capmk to “Strong Sell”

Northland Capmk cut shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on SEDG. Royal Bank of Canada upped their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $18.00 in a report on Thursday. Barclays increased their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. Finally, Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.53.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $18.19 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. The company has a fifty day simple moving average of $14.50 and a 200 day simple moving average of $17.29. The company has a market cap of $1.05 billion, a P/E ratio of -0.58 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. PharVision Advisers LLC bought a new stake in SolarEdge Technologies during the 4th quarter worth about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SolarEdge Technologies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock valued at $3,282,000 after purchasing an additional 15,549 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of SolarEdge Technologies by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock valued at $11,780,000 after purchasing an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $816,000. Finally, Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after purchasing an additional 18,300 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.