SolarEdge Technologies (NASDAQ:SEDG) Cut to Strong Sell at Northland Capmk

Northland Capmk lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

Several other research firms also recently commented on SEDG. Roth Mkm dropped their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets downgraded shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $13.00 to $15.00 in a report on Thursday. Truist Financial dropped their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upped their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. 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. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $21.65.

SolarEdge Technologies Trading Down 3.1 %

Shares of 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 12-month low of $10.24 and a 12-month high of $78.40. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The firm’s 50 day simple moving average is $14.59 and its two-hundred day simple moving average is $17.20.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of 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 purchasing an additional 24,298 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of SolarEdge Technologies by 56.6% in 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 during the period. E. Ohman J or Asset Management AB boosted its stake in shares of SolarEdge Technologies by 109.3% in 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SolarEdge Technologies by 9.1% in 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 during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of SolarEdge Technologies in the third quarter valued at approximately $1,495,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.