SolarEdge Technologies (NASDAQ:SEDG) Shares Down 5.7% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell 5.7% on Tuesday . The stock traded as low as $15.68 and last traded at $15.26. 437,910 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,076,875 shares. The stock had previously closed at $16.18.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SEDG shares. Northland Capmk cut SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their target price on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Morgan Stanley upgraded shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $11.00 to $18.00 in a research report on Thursday, February 20th. UBS Group boosted their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group increased their price objective on shares of SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a report on Friday, February 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $21.80.

SolarEdge Technologies Stock Performance

The stock’s fifty day simple moving average is $15.69 and its 200-day simple moving average is $15.94. The company has a market capitalization of $970.74 million, a price-to-earnings ratio of -0.53 and a beta of 1.78. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies in the 4th quarter valued at about $27,000. Jones Financial Companies Lllp increased its stake in SolarEdge Technologies by 401.2% in 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. Y.D. More Investments Ltd raised its holdings in 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 in the last quarter. R Squared Ltd acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $61,000. Finally, GAMMA Investing LLC boosted its holdings in shares of SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 4,567 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.