SolarEdge Technologies (NASDAQ:SEDG) Shares Up 4.2% 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 changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,799,222 shares. The stock had previously closed at $17.62.

Other analysts have also recently issued reports about the company. TD Cowen dropped their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Truist Financial reduced their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Finally, Susquehanna lifted their price target on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.65.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently modified their holdings of the business. AMG National Trust Bank acquired a new stake in shares of SolarEdge Technologies in the third quarter valued at $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its position in SolarEdge Technologies by 683.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of SolarEdge Technologies by 653.4% in the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the period. Meitav Investment House Ltd. grew its position in shares of SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of SolarEdge Technologies during the third quarter worth approximately $1,495,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Up 1.4 %

The company’s fifty day moving average is $14.80 and its two-hundred day moving average is $17.10. 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 $1.08 billion, a price-to-earnings ratio of -0.60 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.