SolarEdge Technologies (NASDAQ:SEDG) Given New $22.00 Price Target at UBS Group

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price lifted by stock analysts at UBS Group from $18.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. UBS Group's target price would indicate a potential upside of 24.86% from the stock's previous close.

SEDG has been the subject of a number of other reports. Glj Research raised shares of SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Guggenheim upgraded shares of SolarEdge Technologies from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Barclays upped their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price objective on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $21.65.

SolarEdge Technologies Stock Down 3.1 %

SEDG stock traded down $0.57 during midday trading on Thursday, reaching $17.62. 5,092,808 shares of the company were exchanged, compared to its average volume of 4,927,211. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $78.40. The stock's 50-day simple moving average is $14.59 and its 200 day simple moving average is $17.24.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. AMG National Trust Bank acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at about $4,055,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in SolarEdge Technologies by 683.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company's stock valued at $5,786,000 after purchasing an additional 220,304 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of SolarEdge Technologies by 653.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company's stock valued at $4,315,000 after buying an additional 163,340 shares during the period. Meitav Investment House Ltd. lifted its position in SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock worth $13,340,000 after acquiring an additional 51,065 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in SolarEdge Technologies in the third quarter valued at approximately $1,495,000. 95.10% of the stock is owned by hedge funds and other 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.