Solaredge Technologies (SEDG) Given a $53.00 Price Target at Cowen

Solaredge Technologies (NASDAQ:SEDG) has been given a $53.00 price target by investment analysts at Cowen in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Cowen’s price objective would indicate a potential upside of 43.63% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Roth Capital raised their target price on Solaredge Technologies from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Needham & Company LLC raised their target price on Solaredge Technologies from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. B. Riley upgraded Solaredge Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $45.00 in a research report on Thursday, November 9th. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 price target (up previously from $30.00) on shares of Solaredge Technologies in a research report on Monday, November 6th. Finally, BidaskClub lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Solaredge Technologies presently has a consensus rating of “Buy” and a consensus price target of $39.58.

Shares of Solaredge Technologies (NASDAQ SEDG) traded up $0.90 during mid-day trading on Thursday, reaching $36.90. The company had a trading volume of 1,094,200 shares, compared to its average volume of 803,662. Solaredge Technologies has a fifty-two week low of $13.50 and a fifty-two week high of $46.00. The company has a market capitalization of $1,548.46, a PE ratio of 22.36, a P/E/G ratio of 0.77 and a beta of 0.03.

In other news, CFO Ronen Faier sold 33,032 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $39.02, for a total transaction of $1,288,908.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $37.74, for a total value of $566,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 128,380 shares of company stock valued at $4,841,790 over the last ninety days. Company insiders own 16.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Solaredge Technologies in the 4th quarter valued at approximately $102,000. Meadow Creek Investment Management LLC bought a new position in shares of Solaredge Technologies in the 4th quarter valued at approximately $109,000. American International Group Inc. bought a new position in shares of Solaredge Technologies in the 3rd quarter valued at approximately $123,000. Pinebridge Investments L.P. bought a new position in shares of Solaredge Technologies in the 3rd quarter valued at approximately $125,000. Finally, Tyers Asset Management LLC bought a new position in shares of Solaredge Technologies in the 4th quarter valued at approximately $190,000. 66.34% of the stock is owned by institutional investors.

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Solaredge Technologies Company Profile

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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