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

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by analysts at Northland Capmk from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Northland Securities lowered shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target for the company. in a report on Thursday. Wells Fargo & Company decreased their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets downgraded SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their price target for the stock from $13.00 to $15.00 in a report on Thursday. Bank of America cut SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Finally, Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.53.

SolarEdge Technologies Stock Down 7.3 %

Shares of NASDAQ SEDG opened at $18.19 on Thursday. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $78.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The stock has a market cap of $1.05 billion, a P/E ratio of -0.58 and a beta of 1.56. The firm has a 50 day moving average price of $14.50 and a 200 day moving average price of $17.29.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth about $17,909,000. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies during the fourth quarter worth about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after buying an additional 641,915 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after buying an additional 564,490 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of SolarEdge Technologies by 67.6% in 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 buying an additional 512,035 shares during the last quarter. 95.10% of the stock is owned by 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.