SolarEdge Technologies (NASDAQ:SEDG) Raised to Equal Weight at 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 note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $33.00 price objective on the semiconductor company’s stock, up from their prior price objective of $27.00. Morgan Stanley’s price objective would indicate a potential upside of 14.11% from the company’s previous close.

SEDG has been the subject of several other reports. UBS Group boosted their price objective on SolarEdge Technologies from $30.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. The Goldman Sachs Group upped their price target on shares of SolarEdge Technologies from $27.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Guggenheim raised their price objective on shares of SolarEdge Technologies from $5.00 to $7.00 and gave the stock a “sell” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SolarEdge Technologies in a research note on Monday, December 8th. Finally, TD Cowen increased their target price on SolarEdge Technologies from $26.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $24.87.

SolarEdge Technologies Stock Performance

SEDG stock opened at $28.92 on Tuesday. SolarEdge Technologies has a 1-year low of $11.00 and a 1-year high of $48.60. The company has a current ratio of 2.28, a quick ratio of 1.60 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.73 billion, a PE ratio of -2.99 and a beta of 1.67. The business’s 50-day moving average price is $35.57 and its two-hundred day moving average price is $30.56.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its position in SolarEdge Technologies by 234.8% during the third quarter. UBS Group AG now owns 3,554,504 shares of the semiconductor company’s stock valued at $131,517,000 after purchasing an additional 2,492,776 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of SolarEdge Technologies by 612.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,448,643 shares of the semiconductor company’s stock worth $53,600,000 after purchasing an additional 1,245,445 shares in the last quarter. Ion Asset Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 135.9% in the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company’s stock valued at $33,695,000 after buying an additional 1,199,801 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its holdings in shares of SolarEdge Technologies by 213.4% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 1,490,637 shares of the semiconductor company’s stock valued at $30,409,000 after buying an additional 1,015,017 shares during the last quarter. Finally, Electron Capital Partners LLC grew its stake in shares of SolarEdge Technologies by 107.8% in the third quarter. Electron Capital Partners LLC now owns 1,732,566 shares of the semiconductor company’s stock valued at $64,105,000 after buying an additional 898,802 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.