SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $12.00 at Susquehanna

SolarEdge Technologies (NASDAQ:SEDG) had its target price reduced by Susquehanna from $17.00 to $12.00 in a research note published on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts have also issued reports on the stock. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $11.00 to $18.00 in a research note on Thursday, February 20th. Northland Securities cut SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price objective on the stock. in a report on Thursday, February 20th. Canaccord Genuity Group upped their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Roth Mkm raised their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Barclays upped their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a sell rating, fifteen 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 stock currently has an average rating of “Hold” and an average target price of $21.61.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $13.92 on Monday. The stock has a market capitalization of $818.26 million, a P/E ratio of -0.45 and a beta of 1.63. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $65.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm’s 50-day moving average is $15.79 and its two-hundred day moving average is $15.37.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in SEDG. Point72 Asset Management L.P. bought a new position in SolarEdge Technologies during the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. bought a new position in shares of SolarEdge Technologies during the fourth quarter worth about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after buying an additional 564,490 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after buying an additional 512,035 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.