SolarEdge Technologies (NASDAQ:SEDG) Trading Up 10.6% – Should You Buy?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price traded up 10.6% on Thursday . The stock traded as high as $14.38 and last traded at $14.70. 1,096,829 shares traded hands during trading, a decline of 70% from the average session volume of 3,688,348 shares. The stock had previously closed at $13.29.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler downgraded shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $17.00 to $9.00 in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. TD Cowen reduced their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $20.84.

SolarEdge Technologies Stock Up 13.1 %

The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $870.93 million, a P/E ratio of -0.52 and a beta of 1.56. The firm has a 50-day moving average price of $14.08 and a two-hundred day moving average price of $17.64.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies in the fourth quarter valued at $27,000. Jones Financial Companies Lllp raised its stake in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd raised its stake in 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 acquiring an additional 2,770 shares in the last quarter. R Squared Ltd acquired a new position in SolarEdge Technologies during the fourth quarter worth $61,000. Finally, KBC Group NV raised its stake in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares in 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.