SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Lowered by Northland Capmk

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was downgraded by analysts at Northland Capmk from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on SEDG. Piper Sandler increased their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Roth Mkm raised their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company dropped their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Truist Financial cut their target price on SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, January 16th. Twelve investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.44.

SolarEdge Technologies Stock Down 0.5%

Shares of NASDAQ SEDG traded down $0.11 during trading hours on Friday, hitting $20.65. The company had a trading volume of 4,584,003 shares, compared to its average volume of 4,487,360. The stock has a market capitalization of $1.22 billion, a P/E ratio of -0.66 and a beta of 1.50. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $53.58. The firm's 50 day moving average is $15.16 and its 200-day moving average is $14.77.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. SolarEdge Technologies's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.90) earnings per share. On average, analysts expect that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SEDG. Bayforest Capital Ltd boosted its position in SolarEdge Technologies by 367.3% in the first quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock valued at $923,000 after buying an additional 44,831 shares in the last quarter. Caxton Associates LLP bought a new position in SolarEdge Technologies during the first quarter worth $4,164,000. Goldman Sachs Group Inc. raised its stake in SolarEdge Technologies by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company's stock worth $16,147,000 after buying an additional 79,461 shares during the last quarter. Jones Financial Companies Lllp raised its stake in SolarEdge Technologies by 5,736.7% during the first quarter. Jones Financial Companies Lllp now owns 142,474 shares of the semiconductor company's stock worth $2,305,000 after buying an additional 140,033 shares during the last quarter. Finally, Interval Partners LP raised its stake in SolarEdge Technologies by 249.4% during the first quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company's stock worth $1,236,000 after buying an additional 54,523 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

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.