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

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.10, but opened at $16.59. SolarEdge Technologies shares last traded at $17.75, with a volume of 835,033 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEDG. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. UBS Group cut their target price on SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group upped their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Susquehanna dropped their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Northland Securities upgraded 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 report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.84.

SolarEdge Technologies Stock Down 3.5%

The company has a market capitalization of $1.03 billion, a PE ratio of -0.56 and a beta of 1.50. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $15.38 and a two-hundred day simple moving average of $15.04.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The firm had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. SolarEdge Technologies's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted ($1.90) EPS. Research analysts expect that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Institutional Trading of SolarEdge Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Vanguard Group Inc. increased its position in SolarEdge Technologies by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock worth $48,993,000 after purchasing an additional 126,246 shares during the period. Invesco Ltd. increased its position in SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after purchasing an additional 116,809 shares during the period. Ion Asset Management Ltd. raised its stake in shares of SolarEdge Technologies by 135.9% during the 1st quarter. Ion Asset Management Ltd. now owns 2,082,497 shares of the semiconductor company's stock worth $33,695,000 after buying an additional 1,199,801 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at approximately $17,909,000. Hedge funds and other institutional investors 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.