SolarEdge Technologies (NASDAQ:SEDG) Price Target Lowered to $12.00 at Susquehanna

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target reduced by Susquehanna from $17.00 to $12.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor company's stock. Susquehanna's price target suggests a potential downside of 5.12% from the company's current price.

Other equities research analysts have also issued reports about the company. Citigroup restated a "sell" rating and issued a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their target price on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Morgan Stanley raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $11.00 to $18.00 in a report on Thursday, February 20th. Finally, Northland Capmk cut SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.53.

SolarEdge Technologies Stock Up 1.3 %

SolarEdge Technologies stock traded up $0.16 during mid-day trading on Monday, hitting $12.65. 1,827,501 shares of the company's stock were exchanged, compared to its average volume of 4,202,820. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $64.04. The stock has a 50 day moving average of $15.67 and a two-hundred day moving average of $15.20. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a market cap of $746.78 million, a P/E ratio of -0.41 and a beta of 1.63.

Insider Buying and Selling

In other news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in shares of SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares during the period. Jones Financial Companies Lllp grew its position in shares of SolarEdge Technologies by 401.2% during the 4th 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 during the period. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter valued at $27,000. Y.D. More Investments Ltd boosted its stake 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 acquiring an additional 2,770 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its holdings in SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock worth $7,957,000 after purchasing an additional 3,282 shares during the period. 95.10% of the stock is owned by institutional investors.

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.