Barclays Forecasts Strong Price Appreciation for SolarEdge Technologies (NASDAQ:SEDG) Stock

SolarEdge Technologies (NASDAQ:SEDG - Free Report) had its target price hoisted by Barclays from $11.00 to $12.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the semiconductor company's stock.

A number of other brokerages have also recently commented on SEDG. Roth Mkm upped their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. UBS Group raised their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday. Canaccord Genuity Group raised their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Guggenheim reiterated a "sell" rating and issued a $5.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.00.

SolarEdge Technologies Stock Performance

Shares of SEDG stock traded down $0.13 during trading on Wednesday, hitting $20.70. The company's stock had a trading volume of 1,522,770 shares, compared to its average volume of 4,620,273. The company has a market cap of $1.22 billion, a PE ratio of -0.66 and a beta of 1.59. The business has a fifty day moving average of $15.72 and a 200-day moving average of $15.33. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies has a 52 week low of $10.24 and a 52 week high of $49.57.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The firm had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. During the same period in the prior year, the firm earned ($1.90) EPS. The company's revenue was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp increased its position 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 valued at $26,000 after acquiring an additional 790 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its position 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 buying an additional 1,954 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of SolarEdge Technologies during the first quarter valued at approximately $35,000. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Company Profile

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.