SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.65 Consensus Price Target from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned a consensus rating of “Reduce” from the twenty-eight brokerages that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $21.65.

Several research analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Citigroup reaffirmed a “sell” rating and set a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Northland Securities lowered shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price for the company. in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, January 16th.

SolarEdge Technologies Trading Down 6.9 %

NASDAQ SEDG opened at $16.10 on Monday. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $73.60. The business has a 50 day moving average price of $15.57 and a 200-day moving average price of $16.01. 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 company has a market cap of $946.41 million, a price-to-earnings ratio of -0.52 and a beta of 1.78.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its position in 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 in the last quarter. Y.D. More Investments Ltd raised its position in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares in the last quarter. R Squared Ltd bought a new position in shares of SolarEdge Technologies during the 4th quarter worth $61,000. Finally, KBC Group NV grew its position in shares of SolarEdge Technologies by 95.8% during 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. 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.