SolarEdge Technologies (NASDAQ:SEDG) Given New $15.00 Price Target at Royal Bank of Canada

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price boosted by analysts at Royal Bank of Canada from $14.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the semiconductor company's stock. Royal Bank of Canada's price target would suggest a potential downside of 14.87% from the stock's current price.

A number of other research firms also recently issued reports on SEDG. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Thursday. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their target price for the company from $13.00 to $15.00 in a research report on Thursday. Wells Fargo & Company reduced their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. Canaccord Genuity Group upped their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned 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.com, the company presently has a consensus rating of "Hold" and an average price target of $21.65.

SolarEdge Technologies Stock Down 3.1 %

NASDAQ:SEDG traded down $0.57 during mid-day trading 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 quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 1 year low of $10.24 and a 1 year high of $78.40. The stock has a fifty day moving average of $14.59 and a 200-day moving average of $17.24. The firm has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the 4th quarter worth about $27,000. Jones Financial Companies Lllp grew its holdings 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 acquiring an additional 1,954 shares during the period. Y.D. More Investments Ltd raised 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 valued at $53,000 after acquiring an additional 2,770 shares in the last quarter. R Squared Ltd acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $61,000. Finally, KBC Group NV boosted its position in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 1,378 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.