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

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

SEDG has been the topic of a number of other research reports. Barclays lifted their target price on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Truist Financial cut 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 note on Thursday, January 16th. Citigroup reissued a “sell” rating and set a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. UBS Group dropped their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, BMO Capital Markets dropped their price objective on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $21.53.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $18.19 on Thursday. The firm’s 50-day moving average price is $14.50 and its 200-day moving average price is $17.29. The company has a quick ratio of 1.46, a current ratio of 1.95 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SolarEdge Technologies by 6.9% during the fourth 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 increased its holdings in SolarEdge Technologies by 1.4% during the fourth quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock valued at $11,780,000 after buying an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new position in SolarEdge Technologies in the fourth quarter worth approximately $816,000. Finally, Two Sigma Advisers LP raised its position in SolarEdge Technologies by 1.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock worth $15,781,000 after acquiring an additional 18,300 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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.