The Goldman Sachs Group Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its price target lifted by analysts at The Goldman Sachs Group from $21.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 78.94% from the company’s previous close.

A number of other equities research analysts have also commented on SEDG. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. UBS Group raised their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $11.00 to $18.00 in a report on Thursday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $21.30.

SolarEdge Technologies Stock Down 11.7 %

NASDAQ SEDG traded down $2.31 during trading hours on Thursday, hitting $17.32. The company’s stock had a trading volume of 5,396,799 shares, compared to its average volume of 4,804,082. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $78.40. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The company’s 50-day simple moving average is $14.40 and its two-hundred day simple moving average is $17.29. The company has a market capitalization of $1.00 billion, a PE ratio of -0.59 and a beta of 1.56.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC increased its stake in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after acquiring an additional 641,915 shares during the last quarter. Invesco Ltd. raised its holdings in shares of SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after buying an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in SolarEdge Technologies in the 4th quarter worth approximately $17,909,000. Legal & General Group Plc lifted its position in SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after buying an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in SolarEdge Technologies by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after acquiring an additional 16,258 shares during the last quarter. 95.10% of the stock is 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.