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

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) were up 4.2% during mid-day 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 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 brokerages have also weighed in on SEDG. Northland Capmk lowered shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Piper Sandler boosted 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, February 20th. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $11.00 in a report on Thursday, November 7th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Finally, Truist Financial decreased their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.65.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of SolarEdge Technologies during the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. purchased a new position in shares of SolarEdge Technologies during the 4th quarter valued at $12,005,000. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after buying an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of SolarEdge Technologies by 182.3% during the 4th 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 in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of SolarEdge Technologies by 67.6% during the 4th 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 own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

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 business’s 50 day moving average is $14.71 and its two-hundred day moving average is $17.12. The company has a market cap of $1.07 billion, a PE ratio of -0.59 and a beta of 1.56.

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.