SolarEdge Technologies (NASDAQ:SEDG) Shares Down 7.9% - Time to 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.

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price dropped 7.9% during trading on Tuesday . The company traded as low as $24.76 and last traded at $24.92. Approximately 2,193,808 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,853,320 shares. The stock had previously closed at $27.06.

Analyst Ratings Changes

A number of research firms have commented on SEDG. UBS Group raised their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Wells Fargo & Company reduced their target price on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a report on Wednesday, July 9th. Eleven investment analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the company's stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and an average price target of $17.92.

SolarEdge Technologies Trading Down 7.8%

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The business's 50 day moving average price is $21.84 and its 200-day moving average price is $17.52. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -0.83 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.12. The firm had revenue of $219.48 million for 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 was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.90) earnings per share. Equities analysts forecast that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. grew its holdings in SolarEdge Technologies by 60.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 acquiring an additional 790 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in SolarEdge Technologies during the 1st quarter worth $35,000. Public Employees Retirement System of Ohio grew its holdings in SolarEdge Technologies by 21.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company's stock worth $59,000 after acquiring an additional 508 shares in the last quarter. Finally, US Bancorp DE grew its holdings in SolarEdge Technologies by 25.2% during the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after acquiring an additional 918 shares in the last quarter. Institutional investors and hedge funds 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.

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