Why Is SolarEdge Technologies (NASDAQ:SEDG) Attracting Investors?

SolarEdge Technologies (NASDAQ:SEDG) is moving up as investors grow hopeful that the company’s products will gain traction after the Biden transition is complete. SolarEdge is an Israel-based company that makes products to increase solar energy output through module-level Maximum Power Point Tracking.

Recently, Simmons Energy, a division of Piper Jaffray started covering SolarEdge stock with an "overweight" rating and $325 price target. In November, JPMorgan’s Mark Strouse lowered SolarEdge’s price target amid some short-term factors but said that long-term investors should see the stock as a good option.