SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $31.00 by Analysts at The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by The Goldman Sachs Group from $36.00 to $31.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts have also commented on SEDG. JPMorgan Chase & Co. upped their price objective on shares of SolarEdge Technologies from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Royal Bank Of Canada boosted their target price on SolarEdge Technologies from $25.00 to $34.00 and gave the company a “sector perform” rating in a research report on Thursday, November 6th. BMO Capital Markets upped their price target on SolarEdge Technologies from $19.00 to $25.00 and gave the stock an “underperform” rating in a research note on Thursday, November 6th. TD Cowen lifted their price objective on SolarEdge Technologies from $26.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, November 6th. Finally, UBS Group increased their target price on SolarEdge Technologies from $30.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Nineteen equities research analysts have rated the stock with a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Reduce” and a consensus target price of $24.83.

SolarEdge Technologies Stock Down 1.6%

Shares of SEDG opened at $28.47 on Thursday. The company’s 50-day moving average price is $35.37 and its 200 day moving average price is $30.55. SolarEdge Technologies has a 12-month low of $11.00 and a 12-month high of $48.60. The company has a current ratio of 2.28, a quick ratio of 1.60 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.70 billion, a P/E ratio of -2.94 and a beta of 1.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SEDG. Accent Capital Management LLC purchased a new stake in SolarEdge Technologies during the 3rd quarter worth about $25,000. Hantz Financial Services Inc. grew its position in shares of SolarEdge Technologies by 352.5% during the third quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock worth $27,000 after buying an additional 571 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of SolarEdge Technologies during the third quarter worth about $27,000. Saranac Partners Ltd purchased a new stake in shares of SolarEdge Technologies during the third quarter worth approximately $28,000. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SolarEdge Technologies

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.