The Goldman Sachs Group Issues Pessimistic Forecast for SolarEdge Technologies (NASDAQ:SEDG) Stock Price

by · The Cerbat Gem

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) had its target price dropped by equities researchers at The Goldman Sachs Group from $36.00 to $31.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 4.43% from the stock’s current price.

SEDG has been the topic of a number of other reports. TD Cowen boosted their price objective on shares of SolarEdge Technologies from $26.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on SolarEdge Technologies from $19.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Guggenheim lifted their target price on shares of SolarEdge Technologies from $5.00 to $7.00 and gave the company a “sell” rating in a research note on Monday, August 25th. Royal Bank Of Canada raised their price target on shares of SolarEdge Technologies from $25.00 to $34.00 and gave the company a “sector perform” rating in a report on Thursday, November 6th. Finally, Wells Fargo & Company lifted their price objective on shares of SolarEdge Technologies from $24.00 to $42.00 and gave the company 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $24.87.

Read Our Latest Stock Analysis on SolarEdge Technologies

SolarEdge Technologies Price Performance

NASDAQ SEDG traded up $0.77 on Thursday, reaching $29.69. 1,517,276 shares of the stock traded hands, compared to its average volume of 4,559,301. SolarEdge Technologies has a 12 month low of $11.00 and a 12 month high of $48.60. 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 firm’s fifty day simple moving average is $35.57 and its 200 day simple moving average is $30.56. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -3.06 and a beta of 1.67.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of SolarEdge Technologies by 5.1% during the 3rd quarter. GAMMA Investing LLC now owns 6,207 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 302 shares during the period. Resona Asset Management Co. Ltd. grew its stake in shares of SolarEdge Technologies by 6.7% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 6,472 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 404 shares during the period. Tidal Investments LLC increased its position in SolarEdge Technologies by 1.2% in the 2nd quarter. Tidal Investments LLC now owns 42,411 shares of the semiconductor company’s stock valued at $865,000 after buying an additional 484 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of SolarEdge Technologies by 2.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 17,352 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 486 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in SolarEdge Technologies by 21.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 508 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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