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

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report released on Thursday, MarketBeat.com 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 objective would indicate a potential downside of 14.87% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. Northland Securities downgraded shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price objective for the company. in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. 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 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.65.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $17.62 on Thursday. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. The firm’s fifty day simple moving average is $14.59 and its 200 day simple moving average is $17.24. 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 firm has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently made changes to their positions in the business. AMG National Trust Bank bought a new stake in SolarEdge Technologies during the third quarter worth $4,055,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after purchasing an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. increased its holdings in shares of SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of SolarEdge Technologies in the third quarter valued at $1,495,000. Institutional investors own 95.10% of the company’s stock.

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.