Barclays Issues Positive Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its price target increased by research analysts at Barclays from $10.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the semiconductor company's stock. Barclays's price objective would suggest a potential downside of 9.09% from the stock's previous close.

SEDG has been the topic of a number of other reports. Roth Mkm raised their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Northland Securities cut shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price objective for the company. in a research note on Thursday, February 20th. Glj Research raised shares of SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Piper Sandler raised their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their price target for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $21.53.

SolarEdge Technologies Stock Down 4.3 %

NASDAQ SEDG traded down $0.54 on Wednesday, hitting $12.10. The stock had a trading volume of 1,897,344 shares, compared to its average volume of 4,200,935. The business's fifty day moving average price is $15.67 and its 200 day moving average price is $15.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $64.04. The stock has a market cap of $714.42 million, a price-to-earnings ratio of -0.39 and a beta of 1.63.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after buying an additional 790 shares in the last quarter. Millstone Evans Group LLC bought a new position in SolarEdge Technologies during the fourth quarter valued at about $27,000. Jones Financial Companies Lllp raised 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 worth $33,000 after purchasing an additional 1,954 shares during the period. Y.D. More Investments Ltd grew its stake in shares of 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 acquiring an additional 2,770 shares during the period. Finally, R Squared Ltd purchased a new position in shares of SolarEdge Technologies in the fourth quarter worth about $61,000. 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.