SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up Following Analyst Upgrade
by Danessa Lincoln · The Markets DailySolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report) gapped up prior to trading on Friday after TD Cowen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $30.26, but opened at $31.95. TD Cowen now has a $38.00 price target on the stock. SolarEdge Technologies shares last traded at $32.2650, with a volume of 1,492,085 shares trading hands.
Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of SolarEdge Technologies from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Wells Fargo & Company decreased their target price on SolarEdge Technologies from $42.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, December 19th. Morgan Stanley upgraded SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $27.00 to $33.00 in a report on Tuesday, December 16th. The Goldman Sachs Group reduced their price target on SolarEdge Technologies from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, December 18th. Finally, Susquehanna boosted 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. One investment analyst has rated the stock with a Buy rating, eighteen have issued a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $24.62.
Get Our Latest Stock Analysis on SEDG
Hedge Funds Weigh In On SolarEdge Technologies
Several hedge funds have recently added to or reduced their stakes in the stock. Miller Global Investments LLC purchased a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $104,000. Saranac Partners Ltd acquired a new stake in SolarEdge Technologies during the 3rd quarter worth $28,000. Cantor Fitzgerald L. P. purchased a new stake in SolarEdge Technologies in the third quarter valued at $370,000. BlueCrest Capital Management Ltd acquired a new position in SolarEdge Technologies in the third quarter valued at $2,547,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of SolarEdge Technologies during the third quarter worth about $468,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
SolarEdge Technologies Price Performance
The company has a debt-to-equity ratio of 0.78, a current ratio of 2.28 and a quick ratio of 1.60. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -3.31 and a beta of 1.66. The stock has a 50-day moving average price of $33.04 and a 200 day moving average price of $31.72.
About SolarEdge Technologies
SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.
In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.