SolarEdge Technologies (NASDAQ:SEDG) Given New $19.00 Price Target at Canaccord Genuity Group

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price upped by investment analysts at Canaccord Genuity Group from $18.00 to $19.00 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the semiconductor company's stock. Canaccord Genuity Group's price target would suggest a potential upside of 7.83% from the stock's current price.

Other equities analysts have also issued reports about the company. Guggenheim raised SolarEdge Technologies from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. Mizuho downgraded SolarEdge Technologies from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $11.00 in a research report on Thursday, November 7th. Roth Mkm cut their target price on SolarEdge Technologies from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. Morgan Stanley raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $11.00 to $18.00 in a report on Thursday. Finally, Wells Fargo & Company dropped their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus target price of $21.65.

SolarEdge Technologies Stock Down 3.1 %

SolarEdge Technologies stock traded down $0.57 during midday trading on Thursday, hitting $17.62. The stock had a trading volume of 5,092,808 shares, compared to its average volume of 4,927,211. 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 $1.02 billion, a P/E ratio of -0.56 and a beta of 1.56. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $78.40. The business has a fifty day moving average price of $14.59 and a 200 day moving average price of $17.24.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently bought and sold shares of SEDG. Point72 Asset Management L.P. bought a new stake in SolarEdge Technologies during the fourth quarter valued at about $17,909,000. Ion Asset Management Ltd. bought a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after buying an additional 641,915 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after buying an additional 564,490 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after buying an additional 512,035 shares during the period. 95.10% of the stock is currently owned by institutional investors.

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.