SolarEdge Technologies (NASDAQ:SEDG) Upgraded by Northland Securities to Market Perform Rating

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by analysts at Northland Securities from an "under perform" rating to a "market perform" rating in a note issued to investors on Friday, MarketBeat reports. The firm presently has a $12.50 price target on the semiconductor company's stock. Northland Securities' target price indicates a potential upside of 2.88% from the company's current price.

Several other research firms have also issued reports on SEDG. Wells Fargo & Company reduced their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Jefferies Financial Group reduced their target price on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their target price for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their target price on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.82.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $0.69 during trading on Friday, hitting $12.15. The company's stock had a trading volume of 1,141,118 shares, compared to its average volume of 4,240,239. The company has a 50-day moving average of $15.10 and a 200-day moving average of $14.81. The firm has a market cap of $717.37 million, a price-to-earnings ratio of -0.39 and a beta of 1.63. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $64.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Insider Buying and Selling

In related news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 790 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp boosted its stake in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 2,770 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $61,000. 95.10% of the stock is currently 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.