Piper Sandler Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG) had its target price lifted by stock analysts at Piper Sandler from $9.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor company’s stock. Piper Sandler’s price target indicates a potential downside of 49.06% from the stock’s previous close.

Several other brokerages also recently weighed in on SEDG. Roth Mkm decreased their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. BMO Capital Markets cut SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their price objective for the stock from $13.00 to $15.00 in a research report on Thursday. The Goldman Sachs Group increased their price objective on SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, UBS Group cut their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.11.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $19.63 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The stock has a fifty day moving average price of $14.40 and a 200 day moving average price of $17.29. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $84.69. The company has a market cap of $1.14 billion, a PE ratio of -0.68 and a beta of 1.56.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in SEDG. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp lifted its stake 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 valued at $33,000 after purchasing an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares in the last quarter. R Squared Ltd acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $61,000. Finally, KBC Group NV lifted 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 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.