SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 5.7% – Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) dropped 5.7% on Tuesday . The company traded as low as $15.68 and last traded at $15.26. Approximately 437,910 shares were traded during trading, a decline of 89% from the average daily volume of 4,076,875 shares. The stock had previously closed at $16.18.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Royal Bank of Canada increased their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Citigroup reaffirmed a “sell” rating and issued a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Trading Up 0.9 %

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 business’s 50-day moving average price is $15.82 and its 200 day moving average price is $15.93. The company has a market cap of $989.32 million, a P/E ratio of -0.54 and a beta of 1.63.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp grew its stake in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares during the period. R Squared Ltd acquired a new stake in SolarEdge Technologies during the fourth quarter worth approximately $61,000. Finally, GAMMA Investing LLC boosted its holdings in shares of SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 4,567 shares during the period. Institutional investors and hedge funds 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.