SolarEdge Technologies (NASDAQ:SEDG) Trading Up 10.8%

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price was up 10.8% on Tuesday . The company traded as high as $79.75 and last traded at $79.33. Approximately 792,872 shares traded hands during trading, a decline of 52% from the average daily volume of 1,637,452 shares. The stock had previously closed at $71.62.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SEDG shares. Susquehanna cut their price target on shares of SolarEdge Technologies from $186.00 to $128.00 and set a “positive” rating on the stock in a research note on Thursday, November 2nd. Piper Sandler cut their price objective on SolarEdge Technologies from $210.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, October 20th. Northland Securities upgraded SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $147.00 price objective on the stock in a report on Friday, October 13th. BNP Paribas downgraded shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and set a $71.00 target price on the stock. in a research note on Thursday, November 2nd. Finally, Roth Capital lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $173.08.

SolarEdge Technologies Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.49. The stock has a market capitalization of $4.55 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. The company has a fifty day moving average of $110.54 and a two-hundred day moving average of $198.30.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in SolarEdge Technologies during the third quarter valued at $25,000. Alta Advisers Ltd bought a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $27,000. Quarry LP bought a new position in shares of SolarEdge Technologies during the first quarter valued at approximately $27,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of SolarEdge Technologies by 173.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 213 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 86.11% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.