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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by Susquehanna from $17.00 to $12.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

SEDG has been the subject of a number of other reports. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Truist Financial lowered their target price 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. Finally, The Goldman Sachs Group boosted their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.61.

SolarEdge Technologies Stock Up 9.1 %

Shares of NASDAQ SEDG opened at $13.92 on Monday. The stock has a market cap of $818.26 million, a P/E ratio of -0.45 and a beta of 1.63. The business’s fifty day simple moving average is $15.79 and its 200-day simple moving average is $15.37. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $65.29. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of SolarEdge Technologies during the 3rd quarter worth $278,000. Geode Capital Management LLC increased its holdings in SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after acquiring an additional 25,474 shares in the last quarter. Tidal Investments LLC raised its position in SolarEdge Technologies by 19.7% during the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock worth $1,463,000 after acquiring an additional 10,515 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 4,567 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of 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 purchasing an additional 564,490 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.