SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 6.9% – Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price dropped 6.9% on Friday . The stock traded as low as $16.62 and last traded at $16.66. Approximately 1,282,415 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,732,335 shares. The stock had previously closed at $17.89.

Analysts Set New Price Targets

SEDG has been the subject of several analyst reports. Northland Capmk lowered SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th. Citigroup reiterated a “sell” rating and issued a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Roth Mkm upped their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, UBS Group upped their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Down 7.8 %

The stock has a market cap of $955.60 million, a PE ratio of -0.53 and a beta of 1.56. The firm has a fifty day moving average of $15.02 and a 200 day moving average of $17.05. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of SEDG. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp grew its holdings in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,954 shares during the last quarter. KBC Group NV grew its holdings in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 2,770 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of SolarEdge Technologies during the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.