SolarEdge Technologies (NASDAQ:SEDG) Shares Down 5.4%

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price dropped 5.4% during trading on Wednesday . The stock traded as low as $20.00 and last traded at $20.11. Approximately 2,177,953 shares traded hands during trading, a decline of 33% from the average daily volume of 3,261,275 shares. The stock had previously closed at $21.25.

Analyst Ratings Changes

SEDG has been the topic of several research analyst reports. Susquehanna lowered their price target on shares of SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group cut shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price target for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Mizuho decreased their price objective on shares of SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Canaccord Genuity Group decreased their price objective on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $49.35.

SolarEdge Technologies Price Performance

The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -4.56 and a beta of 1.56. The company’s 50-day moving average is $23.83 and its 200-day moving average is $41.40.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 earnings per share. Equities research analysts expect that SolarEdge Technologies, Inc. will post -8.67 earnings per share for the current fiscal year.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP grew its stake in SolarEdge Technologies by 110.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock worth $3,685,000 after buying an additional 20,654 shares during the last quarter. Albion Financial Group UT grew its stake in shares of SolarEdge Technologies by 32.2% during the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 955 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of SolarEdge Technologies by 3,750.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after purchasing an additional 45,000 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of SolarEdge Technologies during the second quarter valued at approximately $679,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of SolarEdge Technologies by 1.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock valued at $2,047,000 after purchasing an additional 378 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

About SolarEdge Technologies

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.