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

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by Susquehanna from $13.00 to $17.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group raised their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday. TD Cowen lowered their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Citigroup reissued a “sell” rating and set a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Finally, Truist Financial lowered their price target on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. 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 given a strong buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $17.62 on Thursday. The stock’s 50-day moving average is $14.59 and its two-hundred day moving average is $17.20. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors have recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its holdings in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd boosted 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. R Squared Ltd acquired a new position in SolarEdge Technologies during the fourth quarter worth $61,000. Finally, KBC Group NV boosted its holdings in 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 purchasing an additional 1,378 shares during the last quarter. 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.