Janney Montgomery Scott LLC Makes New $227,000 Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Janney Montgomery Scott LLC acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,671 shares of the semiconductor company’s stock, valued at approximately $227,000.

Other large investors have also recently added to or reduced their stakes in the company. AMG National Trust Bank bought a new stake in SolarEdge Technologies during the third quarter worth about $4,055,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in SolarEdge Technologies by 683.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after buying an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock worth $4,315,000 after buying an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in SolarEdge Technologies during the third quarter worth about $1,495,000. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $13.29 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company has a market capitalization of $770.16 million, a P/E ratio of -0.46 and a beta of 1.56. The company’s 50 day moving average price is $14.08 and its two-hundred day moving average price is $17.64. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $87.98.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SEDG shares. Canaccord Genuity Group upped their target price on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, January 7th. Truist Financial lowered their target price on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Glj Research upgraded SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, Citigroup reissued a “sell” rating and set a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and an average price target of $20.84.

SolarEdge Technologies 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.