SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 7.1% – Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was down 7.1% during mid-day trading on Monday . The company traded as low as $13.50 and last traded at $13.67. Approximately 1,220,083 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,105,868 shares. The stock had previously closed at $14.71.

Analysts Set New Price Targets

SEDG has been the topic of several research reports. Susquehanna raised their price objective on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Northland Capmk lowered SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 20th. Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Piper Sandler raised their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Barclays boosted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. Ten investment 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. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $21.80.

SolarEdge Technologies Trading Down 9.2 %

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 market cap of $784.75 million, a price-to-earnings ratio of -0.43 and a beta of 1.63. The company has a fifty day moving average price of $15.85 and a 200-day moving average price of $15.73.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Millstone Evans Group LLC purchased a new position in SolarEdge Technologies during the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted its position in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares in the last quarter. R Squared Ltd purchased a new position in shares of SolarEdge Technologies during the 4th quarter valued at approximately $61,000. Finally, GAMMA Investing LLC increased its holdings in SolarEdge Technologies by 655.2% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.