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

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have been given a consensus recommendation of “Reduce” by the twenty-eight research firms that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.80.

Several brokerages have recently issued reports on SEDG. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup reiterated a “sell” rating and issued a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Susquehanna boosted their target price on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, UBS Group lifted their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th.

Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares during the period. Millstone Evans Group LLC purchased a new position in SolarEdge Technologies in the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its stake in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the period. Finally, Meitav Investment House Ltd. increased its position in shares of SolarEdge Technologies by 0.6% during the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after purchasing an additional 3,282 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG 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 1 year low of $10.24 and a 1 year high of $73.60. The firm has a 50-day moving average of $15.64 and a 200 day moving average of $15.99. The company has a market cap of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78.

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.