SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Rating of “Reduce” from Analysts

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) have received a consensus recommendation of “Reduce” from the twenty-nine analysts that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.65.

SEDG has been the subject of a number of research analyst reports. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Susquehanna boosted their target price on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Mizuho cut SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. Finally, Truist Financial cut their price target on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 16th.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $15.59 on Thursday. The company has a market capitalization of $916.43 million, a PE ratio of -0.50 and a beta of 1.56. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $78.41. The company has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $16.87. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. PharVision Advisers LLC acquired a new stake in shares of SolarEdge Technologies during the 4th quarter worth $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SolarEdge Technologies by 6.9% during 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 valued at $3,282,000 after acquiring an additional 15,549 shares during the period. Voloridge Investment Management LLC increased its stake in SolarEdge Technologies by 1.4% during 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 purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth about $816,000. Finally, Two Sigma Advisers LP lifted its stake 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 in the last quarter. 95.10% of the stock is currently 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.