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

SolarEdge Technologies (NASDAQ:SEDG) had its target price cut by Wells Fargo & Company from $42.00 to $33.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 15.91% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Barclays boosted their price objective on SolarEdge Technologies from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Royal Bank Of Canada upped their price target on shares of SolarEdge Technologies from $25.00 to $34.00 and gave the stock a “sector perform” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of SolarEdge Technologies from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SolarEdge Technologies in a research report on Monday. Finally, UBS Group lifted their target price on shares of SolarEdge Technologies from $30.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Nineteen analysts have rated the stock with a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $24.45.

SolarEdge Technologies Stock Down 1.6%

Shares of NASDAQ SEDG opened at $28.47 on Friday. The stock has a market capitalization of $1.70 billion, a P/E ratio of -2.94 and a beta of 1.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.28 and a quick ratio of 1.60. SolarEdge Technologies has a 1 year low of $11.00 and a 1 year high of $48.60. The company has a 50-day moving average price of $35.37 and a 200-day moving average price of $30.55.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Saranac Partners Ltd purchased a new stake in SolarEdge Technologies in the third quarter worth about $28,000. Cantor Fitzgerald L. P. bought a new stake in shares of SolarEdge Technologies in the third quarter worth about $370,000. BlueCrest Capital Management Ltd purchased a new stake in shares of SolarEdge Technologies during the 3rd quarter worth approximately $2,547,000. CIBC Bancorp USA Inc. purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth $468,000. Finally, Advisory Services Network LLC purchased a new position in SolarEdge Technologies in the third quarter worth about $133,000. 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.