UBS Group Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG) had its price target upped by UBS Group from $18.00 to $22.00 in a report issued on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $21.00 to $14.00 in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their price target on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Susquehanna cut their price objective 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. Finally, Roth Mkm decreased their target price on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $17.62 on Thursday. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. The company’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $17.20. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Institutional Trading of SolarEdge Technologies

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in SolarEdge Technologies by 2,191.0% in the third quarter. International Assets Investment Management LLC now owns 25,407 shares of the semiconductor company’s stock valued at $582,000 after purchasing an additional 24,298 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of SolarEdge Technologies by 56.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock valued at $7,093,000 after purchasing an additional 111,944 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of SolarEdge Technologies by 109.3% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock valued at $8,559,000 after buying an additional 195,085 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of SolarEdge Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock worth $694,000 after buying an additional 2,500 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of SolarEdge Technologies in the third quarter worth $1,495,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.