SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $19.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective boosted by stock analysts at Canaccord Genuity Group from $18.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 10.37% from the company’s current price.

A number of other research firms have also weighed in on SEDG. Guggenheim upgraded SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the company from $35.00 to $11.00 in a report on Thursday, November 7th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and an average price target of $21.30.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG traded down $2.42 on Thursday, reaching $17.22. 4,029,270 shares of the company traded hands, compared to its average volume of 4,759,150. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The stock has a market capitalization of $997.61 million, a PE ratio of -0.60 and a beta of 1.56. The company’s 50 day moving average is $14.40 and its 200-day moving average is $17.29. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40.

Institutional Trading of SolarEdge Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $27,000. Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd acquired a new stake in SolarEdge Technologies in the 4th quarter valued at $61,000. Finally, KBC Group NV grew its position in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares during the period. 95.10% of the stock is currently 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.