SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 2.6% – Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares were down 2.6% on Thursday . The stock traded as low as $14.31 and last traded at $14.44. Approximately 533,902 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,720,005 shares. The stock had previously closed at $14.83.

Analysts Set New Price Targets

SEDG has been the topic of several research reports. UBS Group dropped their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Susquehanna cut their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Royal Bank of Canada cut their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. Finally, Barclays decreased their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.40.

SolarEdge Technologies Trading Down 5.3 %

The firm has a 50 day moving average of $14.34 and a 200 day moving average of $21.40. The firm has a market cap of $799.71 million, a PE ratio of -0.48 and a beta of 1.56. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same period in the prior year, the company earned ($1.03) EPS. The firm’s quarterly revenue was down 64.0% on a year-over-year basis. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in SEDG. Louisiana State Employees Retirement System boosted its stake in SolarEdge Technologies by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after purchasing an additional 700 shares during the period. Bank Hapoalim BM boosted its position in shares of SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after acquiring an additional 812 shares during the period. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies during the second quarter valued at approximately $28,000. The Manufacturers Life Insurance Company grew its stake in SolarEdge Technologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after acquiring an additional 1,175 shares in the last quarter. Finally, KBC Group NV increased its holdings in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

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.