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

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SEDG shares. Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $21.00 to $14.00 in a research note on Thursday, November 7th. Truist Financial reduced their price target on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. TD Cowen reduced their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, UBS Group increased 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. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.65.

SolarEdge Technologies Stock Down 3.1 %

The firm has a 50 day moving average price of $14.59 and a two-hundred day moving average price of $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. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56.

Institutional Trading of SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. Bank Hapoalim BM grew its position in SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after buying an additional 812 shares during the last quarter. KBC Group NV grew its position 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 purchasing an additional 1,378 shares in the last quarter. Jones Financial Companies Lllp grew its position in SolarEdge Technologies by 401.2% during the 4th 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 in the last quarter. Millstone Evans Group LLC purchased a new position in SolarEdge Technologies during the 4th quarter worth approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in SolarEdge Technologies by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock worth $694,000 after purchasing an additional 2,500 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.