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

SolarEdge Technologies (NASDAQ:SEDG) had its target price hoisted by analysts at UBS Group from $18.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. UBS Group’s target price would indicate a potential upside of 24.90% from the company’s previous close.

SEDG has been the topic of a number of other reports. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Barclays raised their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.27.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG traded down $2.02 during trading hours on Thursday, reaching $17.61. The stock had a trading volume of 2,503,108 shares, compared to its average volume of 4,698,168. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $17.29. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $78.40.

Institutional Investors Weigh In On SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Grantham Mayo Van Otterloo & Co. LLC increased its position in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Invesco Ltd. lifted its position in SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after buying an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies during the fourth quarter valued at approximately $17,909,000. Legal & General Group Plc grew its stake 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 worth $17,262,000 after buying an additional 512,035 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after acquiring an additional 16,258 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.