SolarEdge Technologies (NASDAQ:SEDG) Shares Down 10.3% – Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell 10.3% on Thursday . The stock traded as low as $17.62 and last traded at $17.61. 2,503,108 shares traded hands during trading, a decline of 47% from the average session volume of 4,698,168 shares. The stock had previously closed at $19.63.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SEDG. Northland Securities lowered shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price for the company. in a research note on Thursday. Northland Capmk lowered shares of SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday. UBS Group lifted their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada lifted their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.65.

SolarEdge Technologies Trading Down 3.1 %

The company has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. The company’s fifty day moving average price is $14.59 and its two-hundred day moving average price is $17.24. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Institutional Trading of SolarEdge Technologies

Several hedge funds have recently modified their holdings of the company. Bank Hapoalim BM grew its stake in shares of SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after purchasing an additional 812 shares during the last quarter. KBC Group NV grew its stake 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 valued at $65,000 after purchasing an additional 1,378 shares during the last quarter. Jones Financial Companies Lllp grew its stake 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 valued at $33,000 after purchasing an additional 1,954 shares during the last quarter. Millstone Evans Group LLC bought a new position in SolarEdge Technologies in the fourth quarter valued at approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in SolarEdge Technologies by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds 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.