SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $22.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target increased by UBS Group from $18.00 to $22.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on SEDG. Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Roth Mkm dropped their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Northland Securities lowered SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target on the stock. in a research report on Thursday. Piper Sandler increased their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.65.

SolarEdge Technologies Stock Down 3.1 %

Shares of NASDAQ:SEDG opened at $17.62 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $17.20. The company has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. PharVision Advisers LLC purchased a new position in shares of SolarEdge Technologies in the fourth quarter valued at $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock valued at $3,282,000 after purchasing an additional 15,549 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of SolarEdge Technologies by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock worth $11,780,000 after purchasing an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $816,000. Finally, Two Sigma Advisers LP lifted its stake in SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after buying an additional 18,300 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.