SolarEdge Technologies (NASDAQ:SEDG) Given New $11.00 Price Target at Barclays

SolarEdge Technologies (NASDAQ:SEDG) had its price target increased by analysts at Barclays from $10.00 to $11.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the semiconductor company’s stock. Barclays‘s price target would suggest a potential downside of 10.50% from the company’s current price.

SEDG has been the subject of several other research reports. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $11.00 to $18.00 in a research report on Thursday, February 20th. BMO Capital Markets lowered SolarEdge Technologies from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, Jefferies Financial Group decreased their price target on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.53.

SolarEdge Technologies Trading Down 3.2 %

Shares of NASDAQ SEDG traded down $0.40 during midday trading on Wednesday, hitting $12.29. The stock had a trading volume of 1,105,855 shares, compared to its average volume of 4,182,578. The company has a fifty day moving average price of $15.75 and a 200 day moving average price of $15.35. The company has a market capitalization of $722.44 million, a price-to-earnings ratio of -0.39 and a beta of 1.63. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $64.04. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth about $278,000. Geode Capital Management LLC increased its stake in shares of SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of SolarEdge Technologies by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock worth $1,463,000 after purchasing an additional 10,515 shares during the period. GAMMA Investing LLC lifted its stake in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 4,567 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after purchasing an additional 564,490 shares during the period. Institutional investors 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.