SEDG

DZ Bank Initiates Coverage of SolarEdge Technologies (SEDG) with Hold Recommendation

Fintel reports that on April 17, 2024, DZ Bank initiated coverage of SolarEdge Technologies (NasdaqGS:SEDG) with a Hold recommendation.

Analyst Price Forecast Suggests 49.35% Upside

As of March 31, 2024, the average one-year price target for SolarEdge Technologies is 88.89. The forecasts range from a low of 33.79 to a high of $315.00. The average price target represents an increase of 49.35% from its latest reported closing price of 59.52.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for SolarEdge Technologies is 4,998MM, an increase of 67.91%. The projected annual non-GAAP EPS is 11.09.

What is the Fund Sentiment?

There are 940 funds or institutions reporting positions in SolarEdge Technologies. This is a decrease of 242 owner(s) or 20.47% in the last quarter. Average portfolio weight of all funds dedicated to SEDG is 0.20%, a decrease of 11.61%. Total shares owned by institutions increased in the last three months by 0.77% to 54,684K shares. SEDG / SolarEdge Technologies, Inc. Put/Call Ratios The put/call ratio of SEDG is 1.20, indicating a bearish outlook.

What are Other Shareholders Doing?

SEDG / SolarEdge Technologies, Inc. Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 3,799K shares representing 6.65% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Grantham, Mayo, Van Otterloo & Co. holds 1,976K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 1,495K shares, representing an increase of 24.35%. The firm decreased its portfolio allocation in SEDG by 10.75% over the last quarter.

Invesco holds 1,976K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 2,351K shares, representing a decrease of 18.98%. The firm decreased its portfolio allocation in SEDG by 46.33% over the last quarter.

Baillie Gifford holds 1,729K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,771K shares, representing a decrease of 2.38%. The firm decreased its portfolio allocation in SEDG by 38.69% over the last quarter.

Schroder Investment Management Group holds 1,444K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 1,088K shares, representing an increase of 24.69%. The firm decreased its portfolio allocation in SEDG by 16.36% over the last quarter.

Solaredge Technologies Background Information
(This description is provided by the company.)

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power lives aof people and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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