SolarEdge Technologies (NASDAQ:SEDG) Trading Down 4.4% – Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares traded down 4.4% during mid-day trading on Monday . The stock traded as low as $16.94 and last traded at $17.07. 687,654 shares changed hands during trading, a decline of 85% from the average session volume of 4,587,150 shares. The stock had previously closed at $17.86.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 16th. Northland Securities upgraded SolarEdge Technologies from an “under perform” rating to a “market perform” rating and set a $15.50 price target on the stock in a research report on Friday, May 23rd. Royal Bank of Canada lifted their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Roth Mkm lifted their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, Susquehanna cut their price objective on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.84.

SolarEdge Technologies Stock Down 5.0%

The stock has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $14.96. The firm has a market cap of $1.00 billion, a PE ratio of -0.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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 business had revenue of $219.48 million during the quarter, compared to analysts’ expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.90) earnings per share. Sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the fourth quarter worth $227,000. R Squared Ltd bought a new stake in shares of SolarEdge Technologies in the fourth quarter worth $61,000. Bank Hapoalim BM grew its holdings in shares of SolarEdge Technologies by 24.0% in the fourth quarter. Bank Hapoalim BM now owns 41,626 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 8,053 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 2,770 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of SolarEdge Technologies by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 277,832 shares of the semiconductor company’s stock worth $3,779,000 after acquiring an additional 11,704 shares during the period. 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.