SolarEdge Technologies (NASDAQ:SEDG) Hits New 52-Week Low at $58.04

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $58.04 and last traded at $58.05, with a volume of 252018 shares trading hands. The stock had previously closed at $60.44.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SEDG. Piper Sandler reduced their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, February 21st. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a "buy" rating to a "neutral" rating in a report on Friday, March 22nd. B. Riley reduced their target price on shares of SolarEdge Technologies from $166.00 to $133.00 and set a "buy" rating for the company in a report on Monday, February 5th. TD Cowen cut their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, February 21st. Finally, The Goldman Sachs Group cut their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating for the company in a report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $100.28.

SolarEdge Technologies Stock Performance

The firm has a market capitalization of $3.40 billion, a P/E ratio of 132.27 and a beta of 1.51. The company's 50 day moving average is $70.53 and its 200-day moving average is $80.58. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -4.04 EPS for the current year.

Insider Buying and Selling

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SEDG. Panagora Asset Management Inc. raised its holdings in SolarEdge Technologies by 28.3% during the first quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company's stock worth $727,000 after buying an additional 497 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of SolarEdge Technologies by 2.7% in the first quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company's stock valued at $14,315,000 after purchasing an additional 1,174 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of SolarEdge Technologies by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company's stock valued at $2,265,000 after purchasing an additional 435 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of SolarEdge Technologies by 28.5% in the first quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company's stock valued at $1,562,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SolarEdge Technologies by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company's stock valued at $68,007,000 after purchasing an additional 1,902 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.