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

SolarEdge Technologies (NASDAQ:SEDG) had its target price upped by investment analysts at Susquehanna from $13.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential downside of 4.24% from the company’s current price.

A number of other brokerages have also commented on SEDG. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Citigroup reissued a “sell” rating and issued a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday. BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their target price for the company from $13.00 to $15.00 in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.53.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded down $1.88 on Thursday, hitting $17.75. The stock had a trading volume of 5,896,847 shares, compared to its average volume of 4,821,555. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $78.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -0.61 and a beta of 1.56. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $17.29.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently added to or reduced their stakes in SEDG. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in SolarEdge Technologies by 14.9% in 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 buying an additional 641,915 shares during the period. Invesco Ltd. increased its holdings in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after buying an additional 116,809 shares during the period. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies in the 4th quarter worth approximately $17,909,000. Legal & General Group Plc grew its stake in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after purchasing an additional 512,035 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock worth $17,060,000 after purchasing an additional 16,258 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.