SolarEdge Technologies’ (SEDG) Sell Rating Reiterated at Guggenheim

Guggenheim reissued their sell rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have a $5.00 target price on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays raised their price objective on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, April 16th. UBS Group lifted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $18.00 in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Eleven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.82.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $12.56 on Wednesday. The stock has a 50 day simple moving average of $15.34 and a 200 day simple moving average of $14.93. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $64.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The firm has a market capitalization of $741.58 million, a PE ratio of -0.40 and a beta of 1.63.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in SolarEdge Technologies during the fourth quarter worth about $17,909,000. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies in the 4th quarter valued at approximately $12,005,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of 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 valued at $67,370,000 after acquiring an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 564,490 shares in the last quarter. Finally, Legal & General Group Plc boosted its position 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 worth $17,262,000 after buying an additional 512,035 shares during the period. 95.10% of the stock is owned by institutional investors.

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.