SolarEdge Technologies (NASDAQ:SEDG) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of SolarEdge Technologies (NASDAQ:SEDG) in a report released on Wednesday, Marketbeat reports. Morgan Stanley currently has a $10.00 price target on the semiconductor company’s stock.

A number of other analysts have also recently issued reports on SEDG. Canaccord Genuity Group increased their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Citigroup reissued a “sell” rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Guggenheim reaffirmed a “sell” rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday. Barclays upped their target price on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group raised their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Twelve investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $16.92.

SolarEdge Technologies Trading Down 8.7 %

Shares of SEDG stock opened at $11.92 on Wednesday. The stock has a market capitalization of $703.79 million, a price-to-earnings ratio of -0.38 and a beta of 1.63. The company’s fifty day simple moving average is $15.52 and its two-hundred day simple moving average is $15.03. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $64.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by company insiders.

Institutional Trading of SolarEdge Technologies

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of SolarEdge Technologies by 3.7% during the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after purchasing an additional 25,474 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of SolarEdge Technologies by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after buying an additional 10,515 shares in the last quarter. GAMMA Investing LLC grew its position in shares of SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after buying an additional 4,567 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after acquiring an additional 564,490 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in SolarEdge Technologies by 592.3% during the 4th quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company’s stock valued at $1,873,000 after acquiring an additional 117,841 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.