Brokerages Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) Price Target at $21.65

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has been assigned an average rating of “Reduce” from the twenty-nine brokerages that are covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.65.

A number of equities research analysts have recently weighed in on SEDG shares. Northland Securities lowered shares of 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. Northland Capmk cut SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 20th. Truist Financial lowered their price objective on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company cut their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th.

SolarEdge Technologies Stock Up 5.1 %

Shares of NASDAQ:SEDG opened at $15.59 on Thursday. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.41. The firm’s 50 day moving average price is $15.01 and its 200 day moving average price is $16.87. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a market cap of $916.43 million, a price-to-earnings ratio of -0.50 and a beta of 1.56.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock valued at $3,282,000 after purchasing an additional 15,549 shares during the period. Voloridge Investment Management LLC boosted its holdings in SolarEdge Technologies by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock valued at $11,780,000 after purchasing an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd acquired a new position in SolarEdge Technologies during the 4th quarter worth approximately $816,000. Finally, Two Sigma Advisers LP raised its stake in shares of SolarEdge Technologies by 1.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock worth $15,781,000 after buying an additional 18,300 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.