Jefferies Financial Group Increases SolarEdge Technologies (NASDAQ:SEDG) Price Target to $12.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price lifted by stock analysts at Jefferies Financial Group from $9.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price suggests a potential downside of 34.03% from the stock’s current price.

Several other analysts also recently commented on the company. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets downgraded SolarEdge Technologies from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $13.00 to $15.00 in a research note on Thursday. Finally, Northland Capmk downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $21.34.

SolarEdge Technologies Stock Down 7.3 %

NASDAQ:SEDG opened at $18.19 on Friday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -0.58 and a beta of 1.56. SolarEdge Technologies has a 12-month low of $10.24 and a 12-month high of $78.40. 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’s fifty day simple moving average is $14.50 and its 200-day simple moving average is $17.29.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the period. Invesco Ltd. raised its holdings in shares of SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after acquiring an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $17,909,000. Legal & General Group Plc raised its holdings in shares of SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after acquiring an additional 512,035 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock worth $17,060,000 after acquiring an additional 16,258 shares during the last quarter. 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.