B. Riley Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $133.00

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) had its price objective reduced by equities research analysts at B. Riley from $166.00 to $133.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 97.39% from the stock’s current price.

Several other equities analysts also recently commented on SEDG. Guggenheim downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Thursday, November 2nd. Morgan Stanley cut their price objective on shares of SolarEdge Technologies from $176.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, November 20th. Truist Financial upped their price objective on shares of SolarEdge Technologies from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $150.00 price objective (down previously from $300.00) on shares of SolarEdge Technologies in a research report on Friday, October 20th. Finally, Roth Mkm boosted their target price on SolarEdge Technologies from $60.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, December 7th. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.26.

Check Out Our Latest Analysis on SEDG

SolarEdge Technologies Price Performance

Shares of SEDG opened at $67.38 on Monday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 18.41 and a beta of 1.51. SolarEdge Technologies has a 1-year low of $63.25 and a 1-year high of $345.80. The company’s fifty day simple moving average is $80.95 and its 200 day simple moving average is $115.57. The company has a current ratio of 3.84, a quick ratio of 2.49 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On SolarEdge Technologies

A number of large investors have recently modified their holdings of the company. Quarry LP bought a new position in SolarEdge Technologies during the 1st quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in SolarEdge Technologies during the 1st quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in SolarEdge Technologies during the 2nd quarter valued at $27,000. Harbour Investments Inc. lifted its stake in SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 50 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in SolarEdge Technologies during the 1st quarter valued at $30,000. 86.11% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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