BMO Capital Markets Downgrades SolarEdge Technologies (NASDAQ:SEDG) to Underperform

BMO Capital Markets lowered shares of SolarEdge Technologies (NASDAQ:SEDG) from a market perform rating to an underperform rating in a research report released on Thursday, Marketbeat Ratings reports. They currently have $15.00 price target on the semiconductor company’s stock, up from their previous price target of $13.00.

SEDG has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler downgraded shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $17.00 to $9.00 in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group lifted their price target on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Finally, Northland Securities downgraded SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target on the stock. in a research report on Thursday. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average price target of $21.65.

SolarEdge Technologies Stock Down 3.1 %

Shares of NASDAQ SEDG opened at $17.62 on Thursday. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $78.40. The stock’s fifty day simple moving average is $14.59 and its two-hundred day simple moving average is $17.20. The stock has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp raised its position in SolarEdge Technologies by 401.2% during 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. KBC Group NV lifted its holdings in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares during the period. Y.D. More Investments Ltd boosted its position in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 2,770 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $61,000. 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.