SolarEdge Technologies (NASDAQ:SEDG) Downgraded by Northland Securities

Northland Securities lowered shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from an outperform rating to a market perform rating in a report issued on Thursday morning, Marketbeat reports.

A number of other research analysts have also commented on SEDG. DZ Bank began coverage on SolarEdge Technologies in a report on Wednesday, April 17th. They issued a hold rating and a $62.00 price objective on the stock. Janney Montgomery Scott cut shares of SolarEdge Technologies from a buy rating to a neutral rating in a research note on Friday, March 22nd. Piper Sandler decreased their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group reiterated a hold rating and issued a $75.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reduced their price target on SolarEdge Technologies from $85.00 to $77.00 and set a sector perform rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $93.73.

SolarEdge Technologies Stock Performance

SEDG stock traded down $4.88 during trading hours on Thursday, reaching $52.67. The stock had a trading volume of 6,391,853 shares, compared to its average volume of 2,386,510. The stock has a market capitalization of $3.02 billion, a PE ratio of 117.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The stock has a 50-day simple moving average of $64.59 and a 200 day simple moving average of $74.00. SolarEdge Technologies has a fifty-two week low of $51.65 and a fifty-two week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to analysts' expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Analysts predict that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now directly owns 77,446 shares of the company's stock, valued at $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SEDG. Baillie Gifford & Co. raised its holdings in SolarEdge Technologies by 89.3% during the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company's stock worth $229,298,000 after buying an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in SolarEdge Technologies by 108.5% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company's stock worth $193,626,000 after buying an additional 778,034 shares during the last quarter. Invenomic Capital Management LP acquired a new position in SolarEdge Technologies during the fourth quarter worth $42,644,000. Norges Bank acquired a new position in SolarEdge Technologies during the fourth quarter worth $39,547,000. Finally, Impax Asset Management Group plc grew its stake in shares of SolarEdge Technologies by 46.3% in the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company's stock worth $121,067,000 after acquiring an additional 297,089 shares in the last quarter. 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.