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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective hoisted by stock analysts at Piper Sandler from $9.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. Piper Sandler’s price target would indicate a potential downside of 49.06% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $13.00 to $15.00 in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. TD Cowen cut their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, Truist Financial cut their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.11.

SolarEdge Technologies Stock Up 15.9 %

Shares of SEDG opened at $19.63 on Thursday. The firm has a market cap of $1.14 billion, a P/E ratio of -0.68 and a beta of 1.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $84.69. The company’s 50-day moving average price is $14.40 and its 200 day moving average price is $17.29. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

Institutional Investors Weigh In On SolarEdge Technologies

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