SolarEdge Technologies (NASDAQ:SEDG) Upgraded at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $18.00 price target on the semiconductor company’s stock, up from their previous price target of $11.00. Morgan Stanley’s price target would suggest a potential downside of 8.30% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Truist Financial cut their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Susquehanna cut their price target on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets cut their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, November 7th. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $21.07.

SolarEdge Technologies Stock Up 15.9 %

Shares of SolarEdge Technologies stock opened at $19.63 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $84.69. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.68 and a beta of 1.56. The company’s 50 day moving average price is $14.40 and its 200-day moving average price is $17.29.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank Hapoalim BM lifted its holdings in SolarEdge Technologies by 2.5% in the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after purchasing an additional 812 shares in the last quarter. KBC Group NV lifted its holdings in SolarEdge Technologies by 95.8% in 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SolarEdge Technologies by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock worth $694,000 after acquiring an additional 2,500 shares in the last quarter. 95.10% of the stock is 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.