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

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

SEDG has been the subject of a number of other research reports. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, November 7th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Canaccord Genuity Group raised their target price on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Citigroup reissued a “sell” rating and set a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Finally, Bank of America downgraded shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their target price for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $18.19 on Thursday. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $78.40. The company has a 50-day moving average of $14.50 and a 200 day moving average of $17.29. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Institutional Trading of SolarEdge Technologies

Several large investors have recently bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Invesco Ltd. lifted its stake in SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after acquiring an additional 116,809 shares during the period. Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies during the 4th quarter valued at approximately $17,909,000. Legal & General Group Plc lifted its stake in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after acquiring an additional 512,035 shares during the period. Finally, Two Sigma Investments LP lifted its stake in SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after acquiring an additional 16,258 shares during the period. 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.