By otakuyassine3@gmail.com 
SolarEdge Technologies (NASDAQ:SEDG – Free Report) had its price objective decreased by Wells Fargo & Company from $20.00 to $19.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.
A number of other analysts also recently weighed in on SEDG. Piper Sandler boosted their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $11.00 to $18.00 in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, Susquehanna increased their price target on SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $21.80.
Read Our Latest Stock Analysis on SolarEdge Technologies
SolarEdge Technologies Stock Down 1.1 %
NASDAQ SEDG opened at $15.93 on Thursday. The stock has a 50 day moving average price of $15.61 and a 200-day moving average price of $16.01. SolarEdge Technologies has a one year low of $10.24 and a one year high of $73.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The company has a market capitalization of $936.41 million, a P/E ratio of -0.51 and a beta of 1.78.
Insiders Place Their Bets
In related 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 cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by company insiders.
Hedge Funds Weigh In On SolarEdge Technologies
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $227,000. Assenagon Asset Management S.A. boosted its stake in SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after acquiring an additional 564,490 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $260,000. SG Americas Securities LLC grew its holdings in SolarEdge Technologies by 592.3% in the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company’s stock worth $1,873,000 after purchasing an additional 117,841 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company’s stock worth $7,085,000 after purchasing an additional 144,733 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.
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.
Recommended Stories
Receive News & Ratings for SolarEdge Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SolarEdge Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.