SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.65 Average Price Target from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been given an average rating of “Reduce” by the twenty-eight analysts that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $21.80.

A number of research analysts recently issued reports on SEDG shares. Royal Bank of Canada boosted their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Truist Financial decreased their price objective on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. Piper Sandler raised their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Jefferies Financial Group lifted their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a research report on Friday, February 21st. Finally, Northland Capmk lowered SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $15.85 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $73.60. The company’s 50 day moving average is $15.64 and its 200 day moving average is $15.96. The company has a market cap of $931.71 million, a PE ratio of -0.51 and a beta of 1.78.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery bought 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies during the 4th quarter worth $27,000. Jones Financial Companies Lllp increased its position in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. R Squared Ltd purchased a new stake in shares of SolarEdge Technologies in the 4th quarter valued at approximately $61,000. Finally, KBC Group NV increased its holdings in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.