SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 7.9% - Should You Sell?

Key Points

• SolarEdge Technologies' shares fell by 7.9% during trading on Tuesday, hitting a low of $24.76 and closing at $24.92, with trading volume down 55% from its average.
• Analysts have varying opinions on the stock; UBS raised its price target to $20.00 while Wells Fargo lowered it to $15.00, indicating a consensus rating of "Hold" with an average price target of $17.92.
• The company reported a loss of $1.14 EPS in its last quarterly earnings, exceeding expectations, with revenue increasing 7.4% year-over-year.

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) fell 7.9% on Tuesday . The stock traded as low as $24.76 and last traded at $24.92. 2,193,808 shares were traded during trading, a decline of 55% from the average session volume of 4,853,320 shares. The stock had previously closed at $27.06.

Analysts Set New Price Targets

Several research firms recently issued reports on SEDG. UBS Group raised their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. BNP Paribas Exane cut shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 target price on the stock. in a report on Wednesday, July 16th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $23.00 price target (up from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. Guggenheim reissued a "sell" rating and issued a $5.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Finally, Northland Securities raised shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a research note on Friday, May 23rd. Eleven analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $17.92.

SolarEdge Technologies Stock Performance

The stock has a market capitalization of $1.51 billion, a PE ratio of -0.85 and a beta of 1.56. The business's fifty day moving average is $22.44 and its two-hundred day moving average is $17.78. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System lifted its stake in SolarEdge Technologies by 2.9% in the second quarter. Maryland State Retirement & Pension System now owns 17,352 shares of the semiconductor company's stock worth $354,000 after purchasing an additional 486 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of SolarEdge Technologies by 21.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 508 shares during the period. Edmond DE Rothschild Holding S.A. raised its holdings in SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Deutsche Bank AG lifted its position in SolarEdge Technologies by 0.5% during the first quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock valued at $2,407,000 after acquiring an additional 766 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after buying an additional 790 shares during the last quarter. Institutional investors own 95.10% of the company's stock.

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.