SolarEdge Technologies (NASDAQ:SEDG) Price Target Raised to $31.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective raised by The Goldman Sachs Group from $21.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

SEDG has been the topic of several other research reports. BMO Capital Markets downgraded shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $13.00 to $15.00 in a report on Thursday. UBS Group upped their price objective on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho downgraded shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $11.00 in a report on Thursday, November 7th. Barclays upped their price objective on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley upgraded shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $11.00 to $18.00 in a report on Thursday. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.65.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $17.62 on Thursday. The company has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The company has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $17.20. SolarEdge Technologies has a one year low of $10.24 and a one year high of $78.40.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in SolarEdge Technologies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock valued at $3,282,000 after purchasing an additional 15,549 shares during the last quarter. Voloridge Investment Management LLC raised its stake in SolarEdge Technologies by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock valued at $11,780,000 after purchasing an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd acquired a new position in SolarEdge Technologies in the 4th quarter valued at $816,000. Finally, Two Sigma Advisers LP raised its stake in SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock valued at $15,781,000 after purchasing an additional 18,300 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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.