SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 6.4% Following Insider Buying Activity

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price rose 6.4% during mid-day trading on Friday following insider buying activity. The stock traded as high as $17.55 and last traded at $17.05. Approximately 580,051 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,027,043 shares. The stock had previously closed at $16.02.

Specifically, Chairman More Avery bought 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Roth Mkm increased their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Susquehanna upped their price target on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Royal Bank of Canada raised their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.65.

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SolarEdge Technologies Trading Down 3.4 %

The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a market cap of $943.47 million, a PE ratio of -0.51 and a beta of 1.78. The stock has a 50-day moving average of $15.22 and a 200 day moving average of $16.49.

Institutional Trading of SolarEdge Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company's stock worth $3,282,000 after acquiring an additional 15,549 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in SolarEdge Technologies by 1.4% in the fourth quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company's stock worth $11,780,000 after acquiring an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd acquired a new position in SolarEdge Technologies during the 4th quarter worth approximately $816,000. Finally, Two Sigma Advisers LP increased its position in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company's stock valued at $15,781,000 after purchasing an additional 18,300 shares during the last quarter. Hedge funds and other institutional investors 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.