Northland Securities Lowers SolarEdge Technologies (NASDAQ:SEDG) to Market Perform

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, Briefing.com reports.

Several other brokerages have also issued reports on SEDG. Royal Bank of Canada decreased their target price on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Barclays upped their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reissued a “hold” rating and set a $75.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, February 21st. Citigroup cut their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Scotiabank dropped their price target on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $96.85.

SolarEdge Technologies Price Performance

SEDG stock opened at $57.55 on Thursday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $64.59 and its two-hundred day moving average price is $74.00. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 127.89 and a beta of 1.53. SolarEdge Technologies has a 12-month low of $53.59 and a 12-month high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities analysts predict that SolarEdge Technologies will post -4.68 earnings per share for the current year.

Insider Activity at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

Institutional Trading of SolarEdge Technologies

Several institutional investors have recently made changes to their positions in the business. NBC Securities Inc. purchased a new position in shares of SolarEdge Technologies during the third quarter valued at about $25,000. Manchester Capital Management LLC grew its holdings in SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC bought a new stake in SolarEdge Technologies in the 4th quarter worth approximately $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 640 shares during the last quarter. 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.