SolarEdge Technologies (NASDAQ:SEDG) Rating Increased to Equal Weight at Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $18.00 price objective on the semiconductor company’s stock, up from their prior price objective of $11.00. Morgan Stanley’s price objective would suggest a potential upside of 2.16% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. UBS Group lowered their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Finally, Roth Mkm decreased their price target on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.65.

SolarEdge Technologies Trading Down 3.1 %

Shares of SEDG stock opened at $17.62 on Thursday. 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 business’s 50 day moving average is $14.59 and its two-hundred day moving average is $17.24. The company has a market cap of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Point72 Asset Management L.P. bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth $17,909,000. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies in the fourth quarter valued at about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in SolarEdge Technologies by 14.9% in 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 last quarter. Assenagon Asset Management S.A. raised its position in SolarEdge Technologies by 182.3% in 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 last quarter. Finally, Legal & General Group Plc raised its position in SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after purchasing an additional 512,035 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.