SolarEdge Technologies (NASDAQ:SEDG) Upgraded by Morgan Stanley to "Equal Weight" Rating

Morgan Stanley upgraded shares of SolarEdge Technologies (NASDAQ:SEDG - Free Report) from an underweight rating to an equal weight rating in a research note published on Thursday, MarketBeat reports. They currently have $18.00 price objective on the semiconductor company's stock, up from their previous price objective of $11.00.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their target price on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Mizuho cut shares of 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 note on Thursday, November 7th. Glj Research raised shares of SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Piper Sandler downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. Finally, Truist Financial decreased their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, January 16th. Ten investment 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $21.65.

SolarEdge Technologies Stock Down 3.1 %

NASDAQ SEDG traded down $0.57 during trading on Thursday, hitting $17.62. 5,092,808 shares of the company traded hands, compared to its average volume of 4,927,211. SolarEdge Technologies has a 12 month low of $10.24 and a 12 month high of $78.40. The business has a fifty day simple moving average of $14.59 and a 200 day simple moving average of $17.24. The company has a market capitalization of $1.02 billion, a P/E ratio of -0.56 and a beta of 1.56. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On SolarEdge Technologies

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