SolarEdge Technologies (NASDAQ:SEDG) Shares Down 5.2% - Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price dropped 5.2% on Friday . The company traded as low as $26.29 and last traded at $26.14. Approximately 971,270 shares traded hands during trading, a decline of 79% from the average daily volume of 4,731,532 shares. The stock had previously closed at $27.57.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research note on Wednesday. Glj Research lowered shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective on the stock. in a research note on Tuesday, June 17th. Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Guggenheim restated a "sell" rating and issued a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of "Hold" and an average price target of $15.96.

SolarEdge Technologies Stock Performance

The company's fifty day moving average price is $19.51 and its 200 day moving average price is $16.44. The company has a market cap of $1.51 billion, a PE ratio of -0.85 and a beta of 1.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.90) earnings per share. On average, equities research analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its position in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after purchasing an additional 144,733 shares in the last quarter. Counterpoint Mutual Funds LLC raised its holdings in SolarEdge Technologies by 159.8% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock valued at $800,000 after acquiring an additional 36,187 shares during the period. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies during the fourth quarter valued at about $27,000. Finally, KLP Kapitalforvaltning AS bought a new stake in SolarEdge Technologies during the fourth quarter valued at about $146,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.

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