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

SolarEdge Technologies (NASDAQ:SEDG) was downgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They presently have a $15.00 target price on the semiconductor company’s stock, up from their prior target price of $13.00. BMO Capital Markets’ price objective would indicate a potential downside of 23.59% from the stock’s previous close.

Several other equities analysts have also recently commented on SEDG. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Citigroup reaffirmed a “sell” rating and set a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Barclays increased their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 14th. Finally, Susquehanna cut their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.07.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $19.63 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a one year low of $10.24 and a one year high of $84.69. The company’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $17.29. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.68 and a beta of 1.56.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently modified their holdings of the stock. Millstone Evans Group LLC acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at $27,000. Jones Financial Companies Lllp lifted its stake 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 valued at $33,000 after purchasing an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of 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 valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. R Squared Ltd acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at $61,000. Finally, KBC Group NV lifted its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. Institutional investors and hedge funds 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.