SolarEdge Technologies (NASDAQ:SEDG) Upgraded by Northland Capmk to "Hold" Rating

Northland Capmk upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from a strong sell rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

Several other research firms have also recently commented on SEDG. Glj Research boosted their target price on SolarEdge Technologies from $3.90 to $6.90 and gave the stock a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Susquehanna decreased their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Northland Securities upgraded shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 target price for the company in a research report on Friday, May 23rd. Finally, Barclays boosted their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.56.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $0.30 during midday trading on Friday, reaching $16.92. 2,358,583 shares of the company traded hands, compared to its average volume of 4,572,528. The firm's fifty day moving average price is $15.29 and its two-hundred day moving average price is $14.85. The firm has a market capitalization of $999.02 million, a price-to-earnings ratio of -0.54 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 12 month low of $10.24 and a 12 month high of $51.50.

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

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The shares were purchased 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 owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This 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 available at this hyperlink. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SEDG. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after buying an additional 641,915 shares during the period. Vanguard Group Inc. boosted its position in shares of SolarEdge Technologies by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock valued at $48,993,000 after purchasing an additional 126,246 shares in the last quarter. Invesco Ltd. boosted its position in shares of SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after purchasing an additional 116,809 shares in the last quarter. Ion Asset Management Ltd. grew its stake in SolarEdge Technologies by 135.9% in the first quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after purchasing an additional 1,199,801 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in SolarEdge Technologies in the fourth quarter worth $17,909,000. 95.10% of the stock is owned by hedge funds and other 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.