SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $31.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target upped by equities research analysts at The Goldman Sachs Group from $21.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 78.94% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Susquehanna dropped their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. UBS Group boosted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler upped their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Truist Financial reduced their price objective 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.30.

SolarEdge Technologies Stock Performance

SEDG traded down $2.31 on Thursday, reaching $17.32. The company had a trading volume of 5,396,799 shares, compared to its average volume of 4,804,082. The company’s fifty day moving average is $14.40 and its 200 day moving average is $17.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The stock has a market cap of $1.00 billion, a P/E ratio of -0.59 and a beta of 1.56. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank Hapoalim BM lifted its holdings in SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after buying an additional 812 shares during the period. KBC Group NV lifted its position in shares of SolarEdge Technologies by 95.8% during the 3rd 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. Jones Financial Companies Lllp boosted 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. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies in the fourth quarter worth $27,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in SolarEdge Technologies by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock valued at $694,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds 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.