Wells Fargo & Company Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $33.00

SolarEdge Technologies (NASDAQ:SEDG) had its price target reduced by Wells Fargo & Company from $42.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.91% from the company’s previous close.

A number of other analysts have also recently commented on SEDG. TD Cowen lifted their price target on SolarEdge Technologies from $26.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, November 6th. Susquehanna increased their price target on SolarEdge Technologies from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. UBS Group boosted their target price on shares of SolarEdge Technologies from $30.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on SolarEdge Technologies from $19.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Finally, Citigroup lowered their target price on SolarEdge Technologies from $30.00 to $29.00 and set a “sell” rating on the stock in a report on Thursday. Nineteen research analysts have rated the stock with a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Reduce” and an average price target of $24.45.

SolarEdge Technologies Trading Down 1.6%

Shares of NASDAQ:SEDG opened at $28.47 on Friday. The business’s fifty day simple moving average is $35.37 and its 200-day simple moving average is $30.55. SolarEdge Technologies has a 12-month low of $11.00 and a 12-month 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 company has a market capitalization of $1.70 billion, a PE ratio of -2.94 and a beta of 1.67.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $25,000. Edmond DE Rothschild Holding S.A. grew its position in SolarEdge Technologies by 60.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after buying an additional 600 shares during the period. Whittier Trust Co. purchased a new position in SolarEdge Technologies in the 3rd quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its stake in shares of SolarEdge Technologies by 352.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock worth $27,000 after buying an additional 571 shares during the last quarter. Finally, Saranac Partners Ltd purchased a new stake in shares of SolarEdge Technologies in the third quarter valued at about $28,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.