Jefferies Financial Group Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $9.00

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price reduced by investment analysts at Jefferies Financial Group from $12.00 to $9.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "underperform" rating on the semiconductor company's stock. Jefferies Financial Group's price target points to a potential downside of 28.84% from the company's previous close.

SEDG has been the topic of a number of other research reports. The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Roth Mkm increased their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Glj Research raised SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Finally, Piper Sandler increased their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus price target of $21.53.

SolarEdge Technologies Trading Up 1.3 %

NASDAQ SEDG traded up $0.16 during trading hours on Tuesday, hitting $12.65. 1,827,501 shares of the company's stock were exchanged, compared to its average volume of 4,210,186. SolarEdge Technologies has a 1-year low of $10.24 and a 1-year high of $64.04. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $15.67 and a 200 day simple moving average of $15.15. The firm has a market cap of $746.78 million, a price-to-earnings ratio of -0.41 and a beta of 1.63.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SEDG. Point72 Asset Management L.P. bought a new position in SolarEdge Technologies in the 4th quarter valued at $17,909,000. Ion Asset Management Ltd. bought a new stake in SolarEdge Technologies during the fourth quarter valued at $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in SolarEdge Technologies by 67.6% during 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. Hedge funds and other institutional investors own 95.10% of the company's stock.

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.