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

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its price target hoisted by Wells Fargo & Company from $15.00 to $19.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company's stock.

A number of other research firms have also commented on SEDG. TD Cowen reduced their price target 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. Piper Sandler cut SolarEdge Technologies from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. Glj Research raised SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, December 17th. The Goldman Sachs Group increased their price target on SolarEdge Technologies from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Guggenheim raised shares of SolarEdge Technologies from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Seven investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $21.72.

SolarEdge Technologies Trading Up 8.0 %

SolarEdge Technologies stock traded up $1.30 during trading hours on Tuesday, reaching $17.59. 7,775,701 shares of the company's stock traded hands, compared to its average volume of 6,074,512. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The firm's 50 day moving average is $14.12 and its 200-day moving average is $20.06. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $87.98.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company's revenue was down 64.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.03) earnings per share. On average, analysts predict that SolarEdge Technologies will post -19.18 earnings per share for the current year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares of the company's stock, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV boosted its holdings in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after buying an additional 1,378 shares during the period. GAMMA Investing LLC boosted its stake in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 4,567 shares during the period. US Bancorp DE grew its position in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after purchasing an additional 4,834 shares in the last quarter. GFG Capital LLC acquired a new stake in SolarEdge Technologies during the 3rd quarter valued at $229,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of SolarEdge Technologies in the third quarter valued at $278,000. 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.