SolarEdge Technologies (NASDAQ:SEDG) Downgraded to “Under Perform” Rating by Northland Securities

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by stock analysts at Northland Securities from a “market perform” rating to an “under perform” rating in a research note issued to investors on Friday,Finviz reports. They currently have a $15.50 price objective on the semiconductor company’s stock. Northland Securities’ price target would indicate a potential downside of 25.62% from the company’s previous close.

Several other research analysts have also issued reports on the company. Roth Mkm boosted their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Jefferies Financial Group decreased 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. Susquehanna lowered their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reduced their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada lifted their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Eleven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus price target of $16.44.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $20.84 on Friday. The firm has a market capitalization of $1.23 billion, a PE ratio of -0.67 and a beta of 1.50. The stock’s fifty day moving average is $14.94 and its 200 day moving average is $14.74. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $53.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The business had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the prior year, the firm posted ($1.90) earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman More Avery purchased 30,000 shares of the stock in a transaction dated 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 acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in 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. Millstone Evans Group LLC acquired a new stake in shares of SolarEdge Technologies in the 4th quarter worth $27,000. Jones Financial Companies Lllp boosted its position in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in SolarEdge Technologies during the 1st quarter worth $35,000. Finally, Y.D. More Investments Ltd increased its position in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares in the last quarter. 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.