SolarEdge Technologies (NASDAQ:SEDG) Trading 4.2% Higher After Analyst Upgrade

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) were up 4.2% during trading on Monday after Roth Mkm raised their price target on the stock from $17.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. SolarEdge Technologies traded as high as $18.58 and last traded at $18.36. Approximately 841,387 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,799,222 shares. The stock had previously closed at $17.62.

SEDG has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Truist Financial decreased their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets cut shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and upped their target price for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $21.65.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. PharVision Advisers LLC bought a new position in SolarEdge Technologies in the 4th quarter worth about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $3,282,000 after acquiring an additional 15,549 shares in the last quarter. Voloridge Investment Management LLC grew 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 worth $11,780,000 after acquiring an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new position in SolarEdge Technologies in the 4th quarter worth about $816,000. Finally, Two Sigma Advisers LP grew 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 worth $15,781,000 after acquiring an additional 18,300 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Price Performance

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 firm has a market capitalization of $1.07 billion, a P/E ratio of -0.59 and a beta of 1.56. The stock’s 50 day simple moving average is $14.71 and its 200 day simple moving average is $17.12.

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.