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

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have earned a consensus rating of “Reduce” from the twenty-eight ratings firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.80.

A number of research analysts have weighed in on SEDG shares. UBS Group lifted their target price on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Susquehanna boosted their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $11.00 to $18.00 in a research note on Thursday, February 20th. Roth Mkm boosted their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group upped their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, February 20th.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $15.85 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a one year low of $10.24 and a one year high of $73.60. The firm has a market capitalization of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78. The business has a fifty day moving average price of $15.64 and a 200-day moving average price of $15.99.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought 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 of the company’s stock, valued at $3,760,348.60. This represents a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Hedge funds have recently modified their holdings of the company. PharVision Advisers LLC purchased a new stake in shares of SolarEdge Technologies during the fourth quarter worth about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 buying an additional 15,549 shares during the period. Voloridge Investment Management LLC lifted 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 buying an additional 11,926 shares during the period. Sphera Management Technology Funds Ltd bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth approximately $816,000. Finally, Two Sigma Advisers LP increased its stake in shares of SolarEdge Technologies by 1.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after buying an additional 18,300 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

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.