SolarEdge Technologies (NASDAQ:SEDG) Lowered to Strong Sell Rating by Northland Capmk

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

A number of other equities research analysts have also recently issued reports on SEDG. Canaccord Genuity Group upped their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Thursday. Piper Sandler increased their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group lifted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company cut their price target on 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, Roth Mkm lowered their price objective on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 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. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. 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 current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.05 billion, a P/E ratio of -0.58 and a beta of 1.56.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in SolarEdge Technologies by 2,191.0% during the 3rd 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. raised its stake in shares of SolarEdge Technologies by 56.6% during the third quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock worth $7,093,000 after buying an additional 111,944 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in 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 buying an additional 195,085 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 acquiring an additional 2,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in SolarEdge Technologies in the third quarter valued at approximately $1,495,000. Institutional investors and hedge funds 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.