Solaredge Technologies Inc (NASDAQ:SEDG) rose 0% during mid-day trading on Monday . The stock traded as high as $34.80 and last traded at $34.50. Approximately 815,107 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 687,331 shares. The stock had previously closed at $34.50.

SEDG has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Solaredge Technologies from $31.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Canaccord Genuity reissued a “buy” rating and issued a $36.00 price objective (up from $30.00) on shares of Solaredge Technologies in a research note on Monday, November 6th. Needham & Company LLC increased their price objective on Solaredge Technologies from $30.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Roth Capital increased their price objective on Solaredge Technologies from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Finally, BidaskClub downgraded Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.19.

The company has a market cap of $1,483.94, a PE ratio of 21.82, a price-to-earnings-growth ratio of 0.74 and a beta of 0.03.

In other Solaredge Technologies news, CFO Ronen Faier sold 30,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the transaction, the chief financial officer now directly owns 91,666 shares of the company’s stock, valued at approximately $3,464,974.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Meir Adest sold 4,700 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $35.02, for a total value of $164,594.00. Following the completion of the transaction, the vice president now directly owns 20,633 shares in the company, valued at $722,567.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,380 shares of company stock worth $4,841,790. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of SEDG. Clal Insurance Enterprises Holdings Ltd acquired a new position in Solaredge Technologies in the 4th quarter worth about $102,000. American International Group Inc. acquired a new position in shares of Solaredge Technologies during the 3rd quarter valued at about $123,000. Pinebridge Investments L.P. acquired a new position in shares of Solaredge Technologies during the 3rd quarter valued at about $125,000. Baird Financial Group Inc. acquired a new position in shares of Solaredge Technologies during the 4th quarter valued at about $213,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Solaredge Technologies during the 4th quarter valued at about $218,000. 66.34% of the stock is currently owned by institutional investors.

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About Solaredge Technologies

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.

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