Solaredge Technologies (SEDG) Stock Price Up 0%
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.
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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