SolarEdge Technologies (NASDAQ:SEDG) Stock Rating Upgraded by Morgan Stanley

SolarEdge Technologies (NASDAQ:SEDG) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a $18.00 target price on the semiconductor company’s stock, up from their previous target price of $11.00. Morgan Stanley’s price target would suggest a potential upside of 2.16% from the company’s previous close.

Several other equities research analysts have also recently issued reports on SEDG. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group upped their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, UBS Group decreased their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $17.62 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $14.59 and a 200-day simple moving average of $17.24. SolarEdge Technologies has a 52-week low of $10.24 and a 52-week high of $78.40. The company has a market capitalization of $1.02 billion, a PE ratio of -0.56 and a beta of 1.56.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the business. Bank Hapoalim BM lifted its position in shares of SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after purchasing an additional 812 shares in the last quarter. KBC Group NV lifted its position in shares of SolarEdge Technologies by 95.8% in 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. Jones Financial Companies Lllp lifted its position in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in SolarEdge Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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.