SolarEdge Technologies (NASDAQ:SEDG) Trading 4.2% Higher Following Analyst Upgrade

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price was up 4.2% during trading on Monday after Roth Mkm raised their price target on the stock from $17.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. SolarEdge Technologies traded as high as $18.58 and last traded at $18.36. Approximately 841,387 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,799,222 shares. The stock had previously closed at $17.62.

A number of other research firms also recently weighed in on SEDG. BMO Capital Markets downgraded shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their target price for the company from $13.00 to $15.00 in a research report on Thursday. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. TD Cowen reduced their target price 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. Piper Sandler raised their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday. 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. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus price target of $21.65.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares in the last quarter. KBC Group NV raised its stake in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 2,770 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth approximately $61,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

The stock has a market capitalization of $1.07 billion, a PE ratio of -0.59 and a beta of 1.56. The firm’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $17.15. 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 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.