SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $17.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target upped by analysts at Susquehanna from $13.00 to $17.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential downside of 4.24% from the company’s current price.

Several other research firms have also weighed in on SEDG. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. TD Cowen lowered their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Barclays increased their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 14th. Finally, Citigroup reissued a “sell” rating and set a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.53.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded down $1.88 during trading hours on Thursday, hitting $17.75. 5,896,847 shares of the stock were exchanged, compared to its average volume of 4,821,555. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The stock has a market capitalization of $1.03 billion, a P/E ratio of -0.61 and a beta of 1.56. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $78.40. The business’s 50-day moving average is $14.40 and its two-hundred day moving average is $17.29.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. AMG National Trust Bank bought a new stake in SolarEdge Technologies in the 3rd quarter worth about $4,055,000. Connor Clark & Lunn Investment Management Ltd. grew its position in SolarEdge Technologies by 683.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after purchasing an additional 220,304 shares in the last quarter. Mizuho Markets Americas LLC grew its position in SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after purchasing an additional 163,340 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after acquiring an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in SolarEdge Technologies in the third quarter valued at about $1,495,000. 95.10% of the stock is 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.