Analysts Set SolarEdge Technologies, Inc. (NASDAQ:SEDG) PT at $21.65

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have been given an average rating of "Reduce" by the twenty-nine research firms that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.65.

A number of analysts have weighed in on the company. The Goldman Sachs Group increased their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Wells Fargo & Company decreased their target price on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. Citigroup reissued a "sell" rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. TD Cowen reduced their price objective 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. Finally, BMO Capital Markets downgraded shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their target price for the company from $13.00 to $15.00 in a research report on Thursday, February 20th.

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Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of SEDG. International Assets Investment Management LLC raised its stake in shares of SolarEdge Technologies by 2,191.0% during the third quarter. International Assets Investment Management LLC now owns 25,407 shares of the semiconductor company's stock worth $582,000 after acquiring an additional 24,298 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of SolarEdge Technologies by 9.1% during the 3rd 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 during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in SolarEdge Technologies in the 3rd quarter worth $1,495,000. Meitav Investment House Ltd. lifted its stake in SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock worth $13,340,000 after purchasing an additional 51,065 shares during the last quarter. Finally, Bank Hapoalim BM boosted its position in SolarEdge Technologies by 2.5% during 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. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Down 7.8 %

Shares of SEDG traded down $1.40 during trading hours on Thursday, hitting $16.49. 3,542,657 shares of the stock were exchanged, compared to its average volume of 4,793,063. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40. The business has a 50-day moving average of $15.02 and a 200-day moving average of $17.05. The firm has a market capitalization of $955.60 million, a P/E ratio of -0.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

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.