Piper Sandler Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its target price upped by Piper Sandler from $9.00 to $10.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the semiconductor company's stock.

Several other research firms have also recently weighed in on SEDG. UBS Group reduced their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, November 8th. Mizuho cut SolarEdge Technologies from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. TD Cowen reduced their price objective on 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 upped their price objective on SolarEdge Technologies from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $11.00 to $18.00 in a research report on Thursday. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $21.65.

SolarEdge Technologies Trading Down 3.1 %

NASDAQ:SEDG traded down $0.57 on Thursday, reaching $17.62. The company's stock had a trading volume of 5,092,808 shares, compared to its average volume of 4,927,211. 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 firm has a market cap of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. The business's 50-day moving average price is $14.59 and its two-hundred day moving average price is $17.24. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp grew its position 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 buying an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd grew its position 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 buying an additional 2,770 shares in the last quarter. R Squared Ltd acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $61,000. Finally, KBC Group NV boosted its holdings in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

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.