SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target cut by Wells Fargo & Company from $20.00 to $19.00 in a report released on Thursday,Benzinga reports. They currently have an equal weight rating on the semiconductor company's stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Northland Securities downgraded shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price target on the stock. in a research note on Thursday, February 20th. Royal Bank of Canada upped their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. UBS Group lifted their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Finally, 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. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus price target of $21.80.

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SolarEdge Technologies Price Performance

Shares of SEDG traded down $0.29 during trading hours on Thursday, reaching $15.56. 1,201,792 shares of the company's stock traded hands, compared to its average volume of 4,081,071. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $73.60. 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 $914.90 million, a PE ratio of -0.50 and a beta of 1.78. The firm's 50 day simple moving average is $15.64 and its 200-day simple moving average is $15.96.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in SolarEdge Technologies during the fourth quarter worth about $227,000. Assenagon Asset Management S.A. raised its position in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SolarEdge Technologies by 38.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after buying an additional 144,733 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in SolarEdge Technologies in the 4th quarter valued at approximately $260,000. Finally, SG Americas Securities LLC lifted its position in SolarEdge Technologies by 592.3% in the 4th quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock valued at $1,873,000 after acquiring an additional 117,841 shares in the last quarter. 95.10% of the stock is currently 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.