Wells Fargo & Company Has Lowered Expectations for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price target lowered by research analysts at Wells Fargo & Company from $20.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 19.87% from the company’s current price.

Other research analysts also recently issued reports about the stock. Northland Capmk downgraded shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th. The Goldman Sachs Group raised their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Northland Securities downgraded SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price on the stock. in a report on Thursday, February 20th. Canaccord Genuity Group increased their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group lifted their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.80.

SolarEdge Technologies Trading Down 0.5 %

NASDAQ SEDG opened at $15.85 on Thursday. The stock has a market cap of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $73.60. The stock has a 50 day simple moving average of $15.64 and a two-hundred day simple moving average of $15.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its holdings in 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. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies during the 4th quarter valued at about $27,000. Y.D. More Investments Ltd lifted its position in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares in the last quarter. Meitav Investment House Ltd. grew its stake in shares of SolarEdge Technologies by 0.6% during the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 3,282 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock worth $26,166,000 after acquiring an additional 3,400 shares in the last quarter. 95.10% of the stock is currently owned by 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.