SolarEdge Technologies, Inc. (NASDAQ:SEDG) had its price target lifted by stock analysts at Roth Capital from $36.00 to $42.00 in a research note issued on Thursday, November 9th. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price points to a potential upside of 8.81% from the stock’s previous close.
A number of other research analysts have also recently issued reports on SEDG. BidaskClub raised shares of SolarEdge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Barclays PLC restated an “overweight” rating and set a $28.00 target price (up from $21.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective (up from $25.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and issued a $31.00 price objective (up from $24.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $25.00) on shares of SolarEdge Technologies in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $33.42.
SolarEdge Technologies (NASDAQ:SEDG) traded up $0.15 on Thursday, reaching $38.60. 625,211 shares of the company’s stock traded hands, compared to its average volume of 838,453. SolarEdge Technologies has a 52-week low of $12.00 and a 52-week high of $39.45. The firm has a market cap of $1,660.00 and a PE ratio of 23.58.
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In other SolarEdge Technologies news, CFO Ronen Faier sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $28.56, for a total value of $856,800.00. Following the completion of the sale, the chief financial officer now owns 80,000 shares in the company, valued at $2,284,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yoav Galin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total value of $395,250.00. Following the completion of the sale, the vice president now owns 65,000 shares of the company’s stock, valued at approximately $1,712,750. The disclosure for this sale can be found here. Insiders have sold 112,940 shares of company stock valued at $3,511,159 in the last three months. 16.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of SolarEdge Technologies during the third quarter valued at $447,000. GSA Capital Partners LLP bought a new position in shares of SolarEdge Technologies during the third quarter valued at $511,000. Argent Capital Management LLC lifted its holdings in shares of SolarEdge Technologies by 128.4% during the third quarter. Argent Capital Management LLC now owns 97,185 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 54,640 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of SolarEdge Technologies during the third quarter valued at $220,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of SolarEdge Technologies during the third quarter valued at $325,000. 59.88% of the stock is currently owned by hedge funds and other institutional investors.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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