Fintel reports that on August 16, 2023, B of A Securities downgraded their outlook for Solaredge Technologies (NASDAQ:SEDG) from Buy to Neutral.

Analyst Price Forecast Suggests 112.68% Upside

As of August 2, 2023, the average one-year price target for Solaredge Technologies is 361.56. The forecasts range from a low of 104.99 to a high of $434.70. The average price target represents an increase of 112.68% from its latest reported closing price of 170.00.

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The projected annual revenue for Solaredge Technologies is 4,101MM, an increase of 11.97%. The projected annual non-GAAP EPS is 8.57.

What is the Fund Sentiment?

There are 1314 funds or institutions reporting positions in Solaredge Technologies. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to SEDG is 0.40%, a decrease of 10.37%. Total shares owned by institutions decreased in the last three months by 2.96% to 51,862K shares. The put/call ratio of SEDG is 0.68, indicating a bullish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 1,668K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 1,548K shares, representing an increase of 7.16%. The firm decreased its portfolio allocation in SEDG by 14.95% over the last quarter.

D. E. Shaw holds 1,504K shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 896K shares, representing an increase of 40.44%. The firm decreased its portfolio allocation in SEDG by 3.34% over the last quarter.

Invesco holds 1,378K shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 1,431K shares, representing a decrease of 3.87%. The firm decreased its portfolio allocation in SEDG by 1.61% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 1,304K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 1,292K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in SEDG by 0.44% over the last quarter.

ICLN – iShares Global Clean Energy ETF holds 1,247K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 1,091K shares, representing an increase of 12.55%. The firm increased its portfolio allocation in SEDG by 17.37% 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.

This article originally appeared on Fintel

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