The Goldman Sachs Group Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $31.00

SolarEdge Technologies (NASDAQ:SEDG) had its target price decreased by equities research analysts at The Goldman Sachs Group from $36.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 4.43% from the stock’s current price.

A number of other research firms have also weighed in on SEDG. BMO Capital Markets upped their price objective on SolarEdge Technologies from $19.00 to $25.00 and gave the stock an “underperform” rating in a research note on Thursday, November 6th. Barclays increased their price objective on shares of SolarEdge Technologies from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Citigroup boosted their target price on shares of SolarEdge Technologies from $9.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, October 21st. Susquehanna raised their target price on shares of SolarEdge Technologies from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company boosted their price target on shares of SolarEdge Technologies from $24.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Nineteen equities research analysts have rated the stock with a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $24.87.

SolarEdge Technologies Price Performance

NASDAQ:SEDG traded up $0.77 during trading hours on Thursday, hitting $29.69. 1,517,276 shares of the stock traded hands, compared to its average volume of 4,559,301. The stock has a 50 day moving average price of $35.57 and a 200 day moving average price of $30.56. The company has a quick ratio of 1.60, a current ratio of 2.28 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -3.06 and a beta of 1.67. SolarEdge Technologies has a 1 year low of $11.00 and a 1 year high of $48.60.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SEDG. U.S. Capital Wealth Advisors LLC purchased a new position in shares of SolarEdge Technologies during the 2nd quarter worth $204,000. Bayforest Capital Ltd grew its holdings in SolarEdge Technologies by 49.8% in the second quarter. Bayforest Capital Ltd now owns 85,461 shares of the semiconductor company’s stock valued at $1,743,000 after purchasing an additional 28,425 shares during the period. Phoenix Financial Ltd. purchased a new stake in shares of SolarEdge Technologies during the 2nd quarter valued at $216,000. Nuveen LLC acquired a new position in SolarEdge Technologies in the first quarter valued at $1,092,000. Finally, Bank Hapoalim BM raised its holdings in shares of SolarEdge Technologies by 73.5% in the 2nd quarter. Bank Hapoalim BM now owns 70,475 shares of the semiconductor company’s stock worth $1,438,000 after purchasing an additional 29,859 shares during the period. Hedge funds and other 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.