SolarEdge Technologies (NASDAQ:SEDG) Trading Down 4.4% - Here's Why

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price dropped 4.4% during trading on Monday . The company traded as low as $16.94 and last traded at $17.07. Approximately 687,654 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,587,150 shares. The stock had previously closed at $17.86.

Analysts Set New Price Targets

SEDG has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Barclays increased their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. Jefferies Financial Group decreased their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a report on Tuesday, April 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, Susquehanna decreased their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.84.

SolarEdge Technologies Stock Down 3.5%

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

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.12. The business had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.90) EPS. On average, analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after buying an additional 790 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position 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 buying an additional 600 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $27,000. Jones Financial Companies Lllp lifted its position in shares of 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 purchasing an additional 1,954 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of SolarEdge Technologies in the 1st quarter worth about $35,000. 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.