SolarEdge Technologies (NASDAQ:SEDG) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of SolarEdge Technologies in a report on Tuesday, September 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 price objective (up from $25.00) on shares of SolarEdge Technologies in a report on Wednesday, August 9th. B. Riley raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $45.00 in a report on Thursday, November 9th. Roth Capital set a $30.00 price objective on shares of SolarEdge Technologies and gave the stock a “buy” rating in a report on Sunday, October 15th. Finally, Zacks Investment Research downgraded shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.19.

SolarEdge Technologies (NASDAQ:SEDG) opened at $34.80 on Friday. The company has a market cap of $1,496.85, a PE ratio of 21.09, a PEG ratio of 0.76 and a beta of 0.16. SolarEdge Technologies has a 1-year low of $12.00 and a 1-year high of $39.90.

In related news, VP Yoav Galin sold 15,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total transaction of $395,250.00. Following the completion of the sale, the vice president now owns 65,000 shares in the company, valued at approximately $1,712,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Zvi Lando sold 10,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $30.36, for a total transaction of $303,600.00. Following the sale, the vice president now owns 48,333 shares of the company’s stock, valued at approximately $1,467,389.88. The disclosure for this sale can be found here. Insiders have sold a total of 112,940 shares of company stock valued at $3,511,159 in the last quarter. 16.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SEDG. Bank of New York Mellon Corp increased its position in SolarEdge Technologies by 601.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after acquiring an additional 1,309,184 shares in the last quarter. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at about $20,180,000. Janus Henderson Group PLC increased its position in SolarEdge Technologies by 435.7% in the 2nd quarter. Janus Henderson Group PLC now owns 946,920 shares of the semiconductor company’s stock valued at $18,932,000 after acquiring an additional 770,166 shares in the last quarter. Koch Industries Inc. acquired a new stake in SolarEdge Technologies in the 2nd quarter valued at about $265,000. Finally, Principal Financial Group Inc. acquired a new stake in SolarEdge Technologies in the 3rd quarter valued at about $7,611,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

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SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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