Needham Maintains a Hold Rating on SolarEdge Technologies (SEDG)
In a report released today, James Ricchiuti from Needham maintained a Hold rating on SolarEdge Technologies (SEDG). The company’s shares closed last Tuesday at $220.14.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 22.9% and a 66.1% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.
SolarEdge Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $321.43, which is a 33.4% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a $260.00 price target.
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Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SEDG in relation to earlier this year.
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SolarEdge Technologies, Inc. engages in the operation of inverter solution for the harvesting and managing of photovoltaic solar power. The company’s products include power optimizer, inverter and monitoring portal. It offers residential solutions, commercial solutions, and grid services. The company was founded by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov in 2006 and is headquartered in Hod HaSharon, Israel.