SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $19.00 at Canaccord Genuity Group

SolarEdge Technologies (NASDAQ:SEDG) had its target price increased by Canaccord Genuity Group from $18.00 to $19.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley upgraded SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $11.00 to $18.00 in a research report on Thursday. Barclays lifted their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, January 14th. Susquehanna reduced their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Piper Sandler boosted their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Roth Mkm reduced their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies Stock Down 7.3 %

Shares of SEDG opened at $18.19 on Thursday. The stock’s fifty day moving average price is $14.50 and its two-hundred day moving average price is $17.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC raised its position in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Invesco Ltd. raised its position in SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after purchasing an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. bought a new position in SolarEdge Technologies during the 4th quarter valued at approximately $17,909,000. Legal & General Group Plc raised its position in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after purchasing an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after purchasing an additional 16,258 shares during the last quarter. 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.