SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, UBS Group Analyst Says

SolarEdge Technologies (NASDAQ:SEDG) had its price target boosted by equities researchers at UBS Group from $18.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. UBS Group’s target price would suggest a potential upside of 24.90% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler boosted their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Thursday. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Citigroup restated a “sell” rating and issued a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Nine 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.27.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG traded down $2.02 during mid-day trading on Thursday, reaching $17.61. 2,503,108 shares of the company were exchanged, compared to its average volume of 4,698,168. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $78.40. The stock has a market capitalization of $1.02 billion, a P/E ratio of -0.61 and a beta of 1.56. The company’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $17.29. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

Institutional Trading of SolarEdge Technologies

A number of large investors have recently made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Invesco Ltd. grew its holdings in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after buying an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in SolarEdge Technologies during the fourth quarter worth about $17,909,000. Legal & General Group Plc grew its position in SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after acquiring an additional 512,035 shares during the period. Finally, Two Sigma Investments LP lifted its position in SolarEdge Technologies by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after buying an additional 16,258 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

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.