Barclays Raises SolarEdge Technologies (NASDAQ:SEDG) Price Target to $11.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective boosted by equities research analysts at Barclays from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price target indicates a potential downside of 13.03% from the company’s previous close.

A number of other research analysts have also issued reports on SEDG. Northland Capmk lowered shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 20th. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Citigroup restated a “sell” rating and set a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Roth Mkm lifted their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group increased their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies Stock Up 1.3 %

Shares of SolarEdge Technologies stock opened at $12.65 on Wednesday. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $64.04. The stock has a market capitalization of $746.78 million, a P/E ratio of -0.41 and a beta of 1.63. 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 50 day moving average price of $15.69 and a two-hundred day moving average price of $15.26.

Insiders Place Their Bets

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 790 shares during the period. Jones Financial Companies Lllp raised its position in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies in the 4th quarter worth $27,000. Y.D. More Investments Ltd increased its holdings in SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its stake in SolarEdge Technologies by 0.6% in the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after buying an additional 3,282 shares during the period. Institutional investors and hedge funds 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.