SolarEdge Technologies (NASDAQ:SEDG) Cut to “Underperform” at BMO Capital Markets

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

SEDG has been the subject of several other reports. Susquehanna decreased their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial decreased their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $21.53.

SolarEdge Technologies Stock Down 7.3 %

Shares of NASDAQ SEDG opened at $18.19 on Thursday. 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 has a 12 month low of $10.24 and a 12 month high of $78.40. The company has a 50 day simple moving average of $14.50 and a two-hundred day simple moving average of $17.29.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp grew its holdings in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted its position in SolarEdge Technologies by 251.8% in the fourth 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 during the last quarter. R Squared Ltd acquired a new position in SolarEdge Technologies in the fourth quarter valued at about $61,000. Finally, KBC Group NV lifted its position 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 buying an additional 1,378 shares during the last quarter. 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.