Wells Fargo & Company Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $19.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by Wells Fargo & Company from $20.00 to $19.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler raised their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $11.00 to $18.00 in a research report on Thursday, February 20th. UBS Group lifted their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, Northland Capmk cut SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $15.85 on Thursday. The stock has a market cap of $931.71 million, a price-to-earnings ratio of -0.51 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies has a fifty-two week low of $10.24 and a fifty-two week high of $73.60. The firm’s 50-day simple moving average is $15.64 and its 200 day simple moving average is $15.98.

Insider Activity at SolarEdge Technologies

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

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in SolarEdge Technologies by 86.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,307 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 7,099 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of SolarEdge Technologies by 2.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 186,738 shares of the semiconductor company’s stock worth $4,278,000 after buying an additional 5,238 shares during the period. FORA Capital LLC purchased a new position in shares of SolarEdge Technologies in the third quarter worth about $1,999,000. Point72 Europe London LLP bought a new stake in shares of SolarEdge Technologies in the 3rd quarter valued at about $1,832,000. Finally, Firsthand Capital Management Inc. boosted its holdings in SolarEdge Technologies by 184.8% during the 3rd quarter. Firsthand Capital Management Inc. now owns 13,000 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 8,435 shares during the period. 95.10% of the stock is currently owned by 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.