SolarEdge Technologies (NASDAQ:SEDG) Given New $29.00 Price Target at Citigroup

SolarEdge Technologies (NASDAQ:SEDG) had its target price dropped by stock analysts at Citigroup from $30.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Citigroup’s target price points to a potential upside of 1.73% from the company’s current price.

SEDG has been the subject of several other reports. Deutsche Bank Aktiengesellschaft increased their target price on SolarEdge Technologies from $19.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday, October 1st. TD Cowen increased their price objective on SolarEdge Technologies from $26.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, November 6th. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of SolarEdge Technologies from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, BMO Capital Markets raised their price target on shares of SolarEdge Technologies from $19.00 to $25.00 and gave the stock an “underperform” rating in a report on Thursday, November 6th. Nineteen research analysts have rated the stock with a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $24.83.

SolarEdge Technologies Trading Down 1.4%

SolarEdge Technologies stock traded down $0.41 during mid-day trading on Thursday, hitting $28.51. The company’s stock had a trading volume of 2,396,893 shares, compared to its average volume of 4,562,895. The business has a 50 day moving average price of $35.57 and a 200-day moving average price of $30.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.28 and a quick ratio of 1.60. SolarEdge Technologies has a 12 month low of $11.00 and a 12 month high of $48.60. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -2.95 and a beta of 1.67.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Accent Capital Management LLC purchased a new position in shares of SolarEdge Technologies during the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Whittier Trust Co. purchased a new stake in SolarEdge Technologies in the third quarter worth $27,000. Hantz Financial Services Inc. grew its stake in SolarEdge Technologies by 352.5% in the third quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 571 shares during the period. Finally, Saranac Partners Ltd bought a new position in SolarEdge Technologies in the third quarter worth $28,000. 95.10% of the stock is currently 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.