SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.53 Average PT from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned a consensus recommendation of “Reduce” from the twenty-seven research firms that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.44.

SEDG has been the topic of several recent research reports. Truist Financial lowered their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Susquehanna decreased their target price on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group boosted their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 20th.

Insider Activity

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

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Janney Montgomery Scott LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at $227,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of 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. Headlands Technologies LLC bought a new position in shares of SolarEdge Technologies in the fourth quarter worth about $257,000. Assenagon Asset Management S.A. lifted its position in shares of SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SolarEdge Technologies by 38.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company’s stock valued at $7,085,000 after purchasing an additional 144,733 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $13.05 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $15.61 and its 200 day moving average price is $15.05. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $64.04. The firm has a market cap of $770.51 million, a P/E ratio of -0.42 and a beta of 1.63.

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.