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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has earned an average recommendation of “Reduce” from the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.65.

Several brokerages recently weighed in on SEDG. 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 report on Thursday, January 16th. BMO Capital Markets downgraded shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Susquehanna increased their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. The Goldman Sachs Group increased their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $16.10 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $15.57 and a 200-day moving average of $16.01. The stock has a market cap of $946.41 million, a P/E ratio of -0.52 and a beta of 1.78. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $73.60.

Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently modified their holdings of the business. Millstone Evans Group LLC bought a new position in SolarEdge Technologies during the 4th quarter worth $27,000. Jones Financial Companies Lllp lifted its position in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares during the period. KBC Group NV boosted its stake in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares during the period. Finally, R Squared Ltd bought a new position in SolarEdge Technologies during the fourth quarter worth $61,000. Institutional investors own 95.10% of the company’s stock.

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.