Time to Reconsider SolarEdge Technologies, Inc. (SEDG) After Reaching 52-Week High?

March 20, 2018 - By Adrian Mccoy

The stock of SolarEdge Technologies, Inc. (NASDAQ:SEDG) hit a new 52-week high and has $59.69 target or 5.00 % above today’s $56.85 share price. The 6 months bullish chart indicates low risk for the $2.50 billion company. The 1-year high was reported on Mar, 20 by Barchart.com. If the $59.69 price target is reached, the company will be worth $124.75 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 3.18% or $1.75 during the last trading session, reaching $56.85. About 236,884 shares traded. SolarEdge Technologies, Inc. (NASDAQ:SEDG) has declined 7.10% since March 20, 2017 and is downtrending. It has underperformed by 23.80% the S&P500.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) Ratings Coverage

Among 20 analysts covering SolarEdge Technologies (NASDAQ:SEDG), 15 have Buy rating, 4 Sell and 1 Hold. Therefore 75% are positive. SolarEdge Technologies has $63 highest and $10 lowest target. $40.12’s average target is -29.43% below currents $56.85 stock price. SolarEdge Technologies had 70 analyst reports since August 13, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Thursday, November 10 by Roth Capital. The firm has “Buy” rating given on Thursday, August 3 by Cowen & Co. Needham maintained the stock with “Buy” rating in Thursday, November 5 report. Cowen & Co maintained the stock with “Buy” rating in Thursday, July 13 report. The stock has “Buy” rating by Needham on Tuesday, September 12. FBR Capital maintained SolarEdge Technologies, Inc. (NASDAQ:SEDG) on Thursday, February 4 with “Outperform” rating. As per Thursday, August 3, the company rating was maintained by Oppenheimer. Roth Capital maintained the stock with “Buy” rating in Thursday, November 9 report. Deutsche Bank maintained SolarEdge Technologies, Inc. (NASDAQ:SEDG) rating on Thursday, February 15. Deutsche Bank has “Hold” rating and $45 target. The firm has “Buy” rating given on Thursday, February 15 by Cowen & Co.

SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current optimized inverter systems for solar photovoltaic (PV) installations in Israel, Europe, the United States, and internationally. The company has market cap of $2.50 billion. The companyÂ’s DC optimized inverter systems include power optimizers, inverters, and cloud monitoring software. It has a 30.73 P/E ratio. The Company’s products are used in a range of solar market divisions, including residential, commercial, and small utility-scale solar installations.

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