SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives $21.53 Consensus Price Target from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received an average rating of “Reduce” from the twenty-seven brokerages that are covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.92.

SEDG has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target 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. Jefferies Financial Group decreased their target price on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Barclays increased their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Wednesday, April 16th. Finally, Roth Mkm boosted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st.

SolarEdge Technologies Trading Down 1.7 %

SolarEdge Technologies stock opened at $11.72 on Friday. The company has a market cap of $691.98 million, a price-to-earnings ratio of -0.38 and a beta of 1.63. The firm has a 50-day moving average of $15.43 and a 200-day moving average of $14.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a one year low of $10.24 and a one year high of $64.04.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Trading of SolarEdge Technologies

Several large investors have recently made changes to their positions in SEDG. Y Intercept Hong Kong Ltd acquired a new stake in shares of SolarEdge Technologies in the 3rd quarter valued at $278,000. Geode Capital Management LLC lifted its position in shares of SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after buying an additional 25,474 shares during the last quarter. Tidal Investments LLC boosted its stake in SolarEdge Technologies by 19.7% in the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after buying an additional 10,515 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 4,567 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position 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 acquiring an additional 564,490 shares during 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.