SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up Following Analyst Upgrade

by · The Cerbat Gem

SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report)’s stock price gapped up before the market opened on Tuesday after Morgan Stanley upgraded the stock from an underweight rating to an equal weight rating. The stock had previously closed at $28.54, but opened at $29.63. Morgan Stanley now has a $33.00 price target on the stock, up from their previous price target of $27.00. SolarEdge Technologies shares last traded at $29.60, with a volume of 1,394,670 shares trading hands.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of SolarEdge Technologies from $27.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. JPMorgan Chase & Co. upped their price target on SolarEdge Technologies from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Susquehanna raised their price objective on SolarEdge Technologies from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Citigroup lifted their price target on shares of SolarEdge Technologies from $9.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, October 21st. Finally, UBS Group increased their price objective on shares of SolarEdge Technologies from $30.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Nineteen analysts have rated the stock with a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $24.87.

Check Out Our Latest Stock Report on SEDG

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in SolarEdge Technologies in the third quarter valued at $25,000. Hantz Financial Services Inc. raised its stake in shares of SolarEdge Technologies by 352.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock worth $27,000 after buying an additional 571 shares in the last quarter. Whittier Trust Co. acquired a new position in SolarEdge Technologies during the third quarter worth about $27,000. Saranac Partners Ltd acquired a new position in shares of SolarEdge Technologies during the 3rd quarter worth $28,000. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Up 3.7%

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.60 and a current ratio of 2.28. The business has a fifty day moving average price of $35.83 and a 200 day moving average price of $30.49. The company has a market capitalization of $1.77 billion, a PE ratio of -3.05 and a beta of 1.67.

About SolarEdge Technologies

(Get Free Report)

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.

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