SolarEdge Technologies, Inc. (NASDAQ:SEDG) Receives Average Recommendation of "Reduce" from Analysts

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has earned an average recommendation of "Reduce" from the twenty-seven ratings firms that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $16.92.

A number of equities research analysts recently weighed in on SEDG shares. Piper Sandler lifted their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Northland Securities cut shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price objective on the stock. in a research note on Thursday, February 20th. BMO Capital Markets cut shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. UBS Group lifted their target price on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Susquehanna lowered their target price on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were purchased 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 directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of SEDG. Fifth Third Bancorp raised its stake in shares of SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 790 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp grew its holdings in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd raised its stake in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after buying an additional 2,770 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $61,000. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded down $0.77 during trading hours on Friday, hitting $12.28. The company had a trading volume of 1,967,112 shares, compared to its average volume of 4,203,717. 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 firm has a market cap of $725.05 million, a P/E ratio of -0.39 and a beta of 1.63. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $64.04. The business has a fifty day simple moving average of $15.61 and a 200-day simple moving average of $15.05.

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.