SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price target cut by analysts at Barclays from $396.00 to $392.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has an "overweight" rating on the semiconductor company's stock. Barclays's price target indicates a potential upside of 19.65% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of SolarEdge Technologies from $385.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, October 18th. Cowen lifted their target price on shares of SolarEdge Technologies from $309.00 to $360.00 and gave the stock an "outperform" rating in a report on Monday, December 5th. Northland Securities raised shares of SolarEdge Technologies from an "underperform" rating to a "market perform" rating in a report on Tuesday, November 8th. Wells Fargo & Company boosted their price objective on shares of SolarEdge Technologies from $306.00 to $367.00 and gave the company an "overweight" rating in a report on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of SolarEdge Technologies from $260.00 to $345.00 and gave the company a "hold" rating in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $347.24.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock opened at $327.61 on Wednesday. The firm's 50 day simple moving average is $304.67 and its 200 day simple moving average is $284.32. The company has a current ratio of 3.53, a quick ratio of 2.72 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $18.31 billion, a PE ratio of 161.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32. SolarEdge Technologies has a 1-year low of $190.15 and a 1-year high of $375.90.

Insider Activity at SolarEdge Technologies

In related news, insider Meir Adest sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $315.96, for a total value of $1,579,800.00. Following the completion of the transaction, the insider now directly owns 140,485 shares of the company's stock, valued at approximately $44,387,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,500 shares of company stock valued at $3,682,425 in the last three months. 1.17% of the stock is owned by insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently bought and sold shares of SEDG. Steward Partners Investment Advisory LLC raised its position in SolarEdge Technologies by 79.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company's stock worth $26,000 after buying an additional 42 shares during the last quarter. AllSquare Wealth Management LLC purchased a new position in SolarEdge Technologies during the 2nd quarter worth approximately $27,000. Wipfli Financial Advisors LLC purchased a new position in SolarEdge Technologies during the 3rd quarter worth approximately $31,000. Clear Street Markets LLC raised its position in SolarEdge Technologies by 431.8% during the 2nd quarter. Clear Street Markets LLC now owns 117 shares of the semiconductor company's stock worth $32,000 after buying an additional 95 shares during the last quarter. Finally, IFP Advisors Inc raised its position in SolarEdge Technologies by 35.1% during the 3rd quarter. IFP Advisors Inc now owns 181 shares of the semiconductor company's stock worth $36,000 after buying an additional 47 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Company Profile

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SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

Further Reading

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