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

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) was upgraded by investment analysts at Northland Securities from an "under perform" rating to a "market perform" rating in a report released on Friday. The firm presently has a $15.50 price objective on the semiconductor company's stock. Northland Securities' price target indicates a potential upside of 3.75% from the company's current price.

Several other brokerages have also recently issued reports on SEDG. Northland Capmk cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Friday, May 16th. Guggenheim reiterated a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. 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 research report on Tuesday, April 15th. Royal Bank of Canada boosted their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Finally, 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. Twelve analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $16.56.

SolarEdge Technologies Trading Down 24.7%

Shares of SEDG opened at $14.94 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a market cap of $882.12 million, a P/E ratio of -0.48 and a beta of 1.50. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $52.40. The company has a 50 day simple moving average of $15.30 and a two-hundred day simple moving average of $14.82.

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

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its holdings in shares of SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 790 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its position in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of SolarEdge Technologies during the 1st quarter worth about $35,000. Hedge funds and other institutional investors 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.

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