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

SolarEdge Technologies (NASDAQ:SEDG) had its price target raised by analysts at Canaccord Genuity Group from $18.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 10.37% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Susquehanna lowered their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Northland Securities cut shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price on the stock. in a report on Thursday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.30.

SolarEdge Technologies Stock Down 12.3 %

NASDAQ SEDG traded down $2.42 during trading hours on Thursday, reaching $17.22. 4,029,270 shares of the company traded hands, compared to its average volume of 4,759,150. The company has a 50 day moving average of $14.40 and a two-hundred day moving average of $17.29. The stock has a market capitalization of $997.61 million, a PE ratio of -0.60 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 company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SEDG. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its position in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,954 shares during the period. KBC Group NV raised 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 in the last quarter. Y.D. More Investments Ltd lifted 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 valued at $53,000 after buying an additional 2,770 shares during the period. Finally, R Squared Ltd bought a new position in SolarEdge Technologies during the fourth quarter valued at about $61,000. 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.