SolarEdge Technologies (NASDAQ:SEDG) Shares Up 8.2% - What's Next?

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) were up 8.2% on Monday . The stock traded as high as $17.33 and last traded at $17.45. Approximately 869,780 shares traded hands during trading, a decline of 79% from the average daily volume of 4,049,845 shares. The stock had previously closed at $16.12.

Analyst Upgrades and Downgrades

SEDG has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the company an "underperform" rating in a research report on Friday, February 21st. Truist Financial reduced their price target on SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, January 16th. Barclays boosted their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Tuesday, January 14th. Northland Capmk lowered SolarEdge Technologies from a "hold" rating to a "strong sell" 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 on the stock in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $21.65.

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SolarEdge Technologies Stock Down 1.0 %

The firm has a fifty day simple moving average of $15.38 and a 200-day simple moving average of $16.18. The company has a market capitalization of $996.20 million, a P/E ratio of -0.54 and a beta of 1.77. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company's stock worth $5,786,000 after purchasing an additional 220,304 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in SolarEdge Technologies during the 4th quarter worth approximately $227,000. Assenagon Asset Management S.A. lifted its holdings in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares during the last quarter. KBC Group NV lifted its holdings in SolarEdge Technologies by 95.8% during 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 during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in SolarEdge Technologies during the 4th quarter worth approximately $260,000. 95.10% of the stock is owned by institutional investors and hedge funds.

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.