SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Hold at Northland Capmk

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

Several other research firms have also commented on SEDG. Wells Fargo & Company reduced their price target on shares of 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. Guggenheim reissued a "sell" rating and issued a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. 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. Canaccord Genuity Group increased their price objective on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Jefferies Financial Group lowered their target price on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research report on Tuesday, April 15th. Eleven analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of "Hold" and an average target price of $16.56.

SolarEdge Technologies Stock Performance

SEDG traded down $0.31 during midday trading on Friday, hitting $16.61. 1,141,123 shares of the company traded hands, compared to its average volume of 4,462,843. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $980.54 million, a PE ratio of -0.53 and a beta of 1.50. The company's 50-day moving average is $15.29 and its 200 day moving average is $14.86. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $51.50.

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

Insider Buying and Selling

In other news, Chairman More Avery bought 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares during the period. Vanguard Group Inc. increased its holdings in shares of SolarEdge Technologies by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock valued at $48,993,000 after acquiring an additional 126,246 shares during the last quarter. Invesco Ltd. increased its holdings in shares of SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after acquiring an additional 116,809 shares during the last quarter. Ion Asset Management Ltd. increased its holdings in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock valued at $33,695,000 after acquiring an additional 1,199,801 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $17,909,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.