SolarEdge Technologies (NASDAQ:SEDG) Stock Price Expected to Rise, UBS Group Analyst Says

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) had its target price lifted by UBS Group from $17.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. UBS Group's target price would suggest a potential downside of 4.44% from the stock's current price.

Several other research firms also recently issued reports on SEDG. Morgan Stanley restated an "underweight" rating and set a $10.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. BMO Capital Markets lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and lifted their price target for the stock from $13.00 to $15.00 in a research note on Thursday, February 20th. Canaccord Genuity Group upped 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. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Piper Sandler boosted their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.96.

SolarEdge Technologies Trading Up 11.8%

SEDG stock traded up $2.21 on Tuesday, hitting $20.93. 4,972,047 shares of the company were exchanged, compared to its average volume of 4,617,125. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -0.67 and a beta of 1.59. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $49.57. The business's fifty day moving average is $15.48 and its two-hundred day moving average is $15.25.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS 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 business had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same quarter last year, the firm posted ($1.90) EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that SolarEdge Technologies will post -4.54 earnings per share for the current year.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently made changes to their positions in the business. 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 last quarter. Edmond DE Rothschild Holding S.A. grew its stake in SolarEdge Technologies by 60.0% in the first 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 in the last quarter. Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp boosted 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 last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of SolarEdge Technologies in the 1st quarter valued at approximately $35,000. 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.