SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $31.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price increased by The Goldman Sachs Group from $21.00 to $31.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the stock. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday. Royal Bank of Canada increased their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $11.00 to $18.00 in a report on Thursday. Roth Mkm lowered their target price on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Northland Securities cut shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price on the stock. in a report on Thursday. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $21.53.

SolarEdge Technologies Stock Down 7.3 %

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

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PharVision Advisers LLC purchased a new stake in SolarEdge Technologies in the 4th quarter worth approximately $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock worth $3,282,000 after purchasing an additional 15,549 shares during the period. Voloridge Investment Management LLC increased its stake in shares of SolarEdge Technologies by 1.4% in the fourth quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock worth $11,780,000 after purchasing an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of SolarEdge Technologies during the 4th quarter valued at $816,000. Finally, Two Sigma Advisers LP lifted its stake in shares of SolarEdge Technologies by 1.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after buying an additional 18,300 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other 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.