Guggenheim Raises SolarEdge Technologies (NASDAQ:SEDG) Price Target to $389.00

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) had its price objective raised by Guggenheim from $348.00 to $389.00 in a research report released on Wednesday, The Fly reports.

A number of other research analysts have also commented on SEDG. JPMorgan Chase & Co. increased their price objective on SolarEdge Technologies from $382.00 to $396.00 in a report on Wednesday, July 20th. BMO Capital Markets lowered their target price on SolarEdge Technologies from $405.00 to $372.00 in a report on Tuesday, May 3rd. Needham & Company LLC lowered their target price on SolarEdge Technologies from $390.00 to $380.00 and set a buy rating on the stock in a report on Wednesday. TheStreet lowered SolarEdge Technologies from a b rating to a c rating in a report on Monday, May 2nd. Finally, Truist Financial initiated coverage on SolarEdge Technologies in a report on Monday, May 2nd. They issued a buy rating and a $340.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $357.32.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $315.50 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.57 and a current ratio of 3.73. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 123.24, a P/E/G ratio of 2.41 and a beta of 1.15. The business’s 50-day simple moving average is $289.45 and its 200-day simple moving average is $279.68. SolarEdge Technologies has a 52 week low of $200.86 and a 52 week high of $389.71.

Insider Buying and Selling

In related news, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the transaction, the vice president now owns 12,581 shares in the company, valued at approximately $3,794,177.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction on Monday, June 13th. The stock was sold at an average price of $263.61, for a total value of $1,318,050.00. Following the completion of the transaction, the insider now owns 186,057 shares in the company, valued at approximately $49,046,485.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rachel Prishkolnik sold 1,900 shares of SolarEdge Technologies stock in a transaction on Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $573,002.00. Following the completion of the transaction, the vice president now owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The disclosure for this sale can be found here. Insiders sold 10,613 shares of company stock worth $3,007,896 in the last 90 days. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of the business. MQS Management LLC bought a new position in SolarEdge Technologies in the 2nd quarter valued at $403,000. Nia Impact Advisors LLC raised its position in shares of SolarEdge Technologies by 15.3% during the second quarter. Nia Impact Advisors LLC now owns 12,161 shares of the semiconductor company’s stock worth $3,328,000 after acquiring an additional 1,615 shares during the last quarter. LA Financiere DE L Echiquier raised its position in shares of SolarEdge Technologies by 6.0% during the second quarter. LA Financiere DE L Echiquier now owns 46,000 shares of the semiconductor company’s stock worth $12,590,000 after acquiring an additional 2,600 shares during the last quarter. abrdn plc raised its position in shares of SolarEdge Technologies by 1.8% during the second quarter. abrdn plc now owns 150,857 shares of the semiconductor company’s stock worth $41,487,000 after acquiring an additional 2,601 shares during the last quarter. Finally, Nvwm LLC raised its position in shares of SolarEdge Technologies by 2.4% during the second quarter. Nvwm LLC now owns 1,897 shares of the semiconductor company’s stock worth $519,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 75.73% of the company’s stock.

SolarEdge Technologies Company Profile

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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 through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. 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.