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

SolarEdge Technologies (NASDAQ:SEDG) had its price objective boosted by UBS Group from $18.00 to $22.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also commented on the company. Barclays upped their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Canaccord Genuity Group increased their target price on SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $11.00 to $18.00 in a research report on Thursday. Finally, TD Cowen decreased their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies Stock Performance

SEDG opened at $18.19 on Thursday. The business has a 50 day simple moving average of $14.50 and a two-hundred day simple moving average of $17.29. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a one year low of $10.24 and a one year high of $78.40.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the business. AMG National Trust Bank purchased a new stake in SolarEdge Technologies during the 3rd quarter valued at $4,055,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 valued at $5,786,000 after purchasing an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in 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 purchasing an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. boosted its stake 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 valued at $13,340,000 after purchasing an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in SolarEdge Technologies during the 3rd quarter valued at $1,495,000. 95.10% of the stock is currently owned by hedge funds and other 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.