Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) Price Target at $21.65

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned an average recommendation of “Reduce” from the twenty-nine ratings firms that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.65.

A number of equities research analysts have commented on the company. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. TD Cowen reduced their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. UBS Group raised their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently made changes to their positions in the company. AMG National Trust Bank bought a new stake in shares of SolarEdge Technologies in the third quarter valued at $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of SolarEdge Technologies by 653.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after purchasing an additional 163,340 shares during the period. Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of SolarEdge Technologies during the 3rd quarter valued at $1,495,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Trading Down 14.3 %

NASDAQ SEDG opened at $14.13 on Thursday. The business has a 50 day simple moving average of $15.01 and a 200 day simple moving average of $16.94. SolarEdge Technologies has a one year low of $10.24 and a one year high of $78.40. The stock has a market capitalization of $818.83 million, a P/E ratio of -0.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

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.