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

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

SEDG has been the subject of several other research reports. BMO Capital Markets downgraded shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their price target for the company from $13.00 to $15.00 in a report on Thursday, February 20th. Roth Mkm lifted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Morgan Stanley reissued an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Susquehanna decreased their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Canaccord Genuity Group lifted their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.56.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded down $4.83 during trading hours on Friday, reaching $15.01. The company's stock had a trading volume of 11,376,159 shares, compared to its average volume of 4,524,292. 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 business has a 50-day simple moving average of $15.35 and a 200 day simple moving average of $14.85. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $53.58. The stock has a market cap of $886.25 million, a PE ratio of -0.48 and a beta of 1.50.

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

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bayforest Capital Ltd lifted its position in shares of SolarEdge Technologies by 367.3% during the 1st quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company's stock valued at $923,000 after acquiring an additional 44,831 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of SolarEdge Technologies during the first quarter worth $4,164,000. Goldman Sachs Group Inc. lifted its holdings in shares of SolarEdge Technologies by 8.7% during the first quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company's stock valued at $16,147,000 after purchasing an additional 79,461 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 valued at $2,305,000 after purchasing an additional 140,033 shares during the last quarter. Finally, Interval Partners LP boosted its position in shares of SolarEdge Technologies by 249.4% in the 1st quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company's stock valued at $1,236,000 after purchasing an additional 54,523 shares during the period. 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.