SolarEdge Technologies (NASDAQ:SEDG) Trading 10.6% Higher – Should You Buy?

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded up 10.6% on Thursday . The stock traded as high as $14.38 and last traded at $14.70. 1,096,829 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,688,348 shares. The stock had previously closed at $13.29.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. BMO Capital Markets cut their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, November 7th. Barclays lifted their price objective on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Tuesday, January 14th. Morgan Stanley reissued an “underweight” rating and set a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a report on Friday, November 15th. Finally, UBS Group cut their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Eight analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $20.84.

SolarEdge Technologies Stock Up 10.2 %

The firm has a market capitalization of $948.06 million, a PE ratio of -0.56 and a beta of 1.56. The company has a fifty day simple moving average of $14.20 and a two-hundred day simple moving average of $17.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SEDG. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp grew its holdings in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares during the period. Y.D. More Investments Ltd grew its holdings in SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 2,770 shares during the period. R Squared Ltd acquired a new stake in SolarEdge Technologies during the fourth quarter worth about $61,000. Finally, KBC Group NV boosted its position in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

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.