SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $19.00 at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by Wells Fargo & Company from $20.00 to $19.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $11.00 to $18.00 in a research report on Thursday, February 20th. Canaccord Genuity Group raised their target price on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Piper Sandler boosted their price target on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Northland Capmk lowered shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $15.85 on Thursday. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $73.60. The firm has a market cap of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $15.64 and a 200-day moving average of $15.98.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by insiders.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently made changes to their positions in SEDG. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake 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 during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 2,770 shares during the period. R Squared Ltd purchased a new stake in SolarEdge Technologies during the fourth quarter valued at $61,000. Finally, GAMMA Investing LLC lifted its holdings in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the period. 95.10% of the stock is currently owned by 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.