Royal Bank of Canada Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price target lifted by Royal Bank of Canada from $14.00 to $15.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a sector perform rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on the company. Barclays increased their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. Mizuho lowered SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $35.00 to $11.00 in a report on Thursday, November 7th. UBS Group increased their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler increased their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their price target on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and an average price target of $21.53.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $18.19 on Thursday. The stock’s 50-day moving average is $14.50 and its 200 day moving average is $17.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies has a one year low of $10.24 and a one year high of $78.40.

Institutional Trading of SolarEdge Technologies

Large investors have recently bought and sold shares of the company. AMG National Trust Bank purchased a new stake in SolarEdge Technologies in the third quarter worth $4,055,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after acquiring an additional 220,304 shares during the period. Mizuho Markets Americas LLC boosted its holdings in shares of SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after acquiring an additional 163,340 shares during the period. Meitav Investment House Ltd. boosted its holdings in shares of SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after acquiring an additional 51,065 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of SolarEdge Technologies in the third quarter worth $1,495,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.