SolarEdge Technologies (NASDAQ:SEDG) Trading 4.2% Higher Following Analyst Upgrade

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) were up 4.2% during trading on Monday after Roth Mkm raised their price target on the stock from $17.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. SolarEdge Technologies traded as high as $18.58 and last traded at $18.36. Approximately 841,387 shares traded hands during trading, a decline of 82% from the average daily volume of 4,799,222 shares. The stock had previously closed at $17.62.

SEDG has been the topic of a number of other research reports. Northland Capmk cut shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday. TD Cowen dropped their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Piper Sandler upped their price target on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.65.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 increased its holdings in SolarEdge Technologies by 6.9% in the 4th 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 acquiring an additional 15,549 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in SolarEdge Technologies by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock worth $11,780,000 after acquiring an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd purchased a new stake in SolarEdge Technologies in the 4th quarter worth approximately $816,000. Finally, Two Sigma Advisers LP increased its holdings in SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock worth $15,781,000 after acquiring an additional 18,300 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 4.4 %

The company’s fifty day moving average is $14.59 and its 200-day moving average is $17.15. The company has a market capitalization of $1.07 billion, a PE ratio of -0.59 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.

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.