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

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $26.43, but opened at $24.74. SolarEdge Technologies shares last traded at $25.24, with a volume of 2,038,906 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Mizuho raised their price objective on SolarEdge Technologies from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research report 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. Northland Capmk raised shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley reissued an "underweight" rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.96.

SolarEdge Technologies Trading Down 7.1%

The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.51 billion, a PE ratio of -0.85 and a beta of 1.62. The stock has a 50 day moving average price of $19.76 and a 200-day moving average price of $16.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The firm 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 company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.90) EPS. Sell-side analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEDG. Point72 Asset Management L.P. bought a new position in shares of SolarEdge Technologies in the fourth quarter worth approximately $17,909,000. Ion Asset Management Ltd. increased its stake in SolarEdge Technologies by 135.9% in 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. Migdal Insurance & Financial Holdings Ltd. raised its holdings in SolarEdge Technologies by 10,038.2% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock valued at $17,945,000 after acquiring an additional 1,098,284 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after acquiring an additional 641,915 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after acquiring an additional 512,035 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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.