SolarEdge Technologies (NASDAQ:SEDG) Stock Price Up 8.2% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price rose 8.2% during trading on Monday . The company traded as high as $17.33 and last traded at $17.45. Approximately 869,780 shares changed hands during trading, a decline of 79% from the average daily volume of 4,049,845 shares. The stock had previously closed at $16.12.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Canaccord Genuity Group increased their price target on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Truist Financial dropped their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average is $15.29 and its 200 day moving average is $16.27. The company has a market cap of $1.03 billion, a PE ratio of -0.57 and a beta of 1.78.

Insider Buying and Selling

In other news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies during the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp grew its holdings in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares during the period. Y.D. More Investments Ltd boosted its holdings in SolarEdge Technologies by 251.8% during the fourth 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 in the last quarter. R Squared Ltd purchased a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $61,000. Finally, KBC Group NV grew its stake in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares during the last quarter. Hedge funds and other 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.