SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 10.3% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price fell 10.3% during mid-day trading on Thursday . The company traded as low as $17.62 and last traded at $17.61. 2,503,108 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 4,698,168 shares. The stock had previously closed at $19.63.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SEDG. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $11.00 to $18.00 in a research note on Thursday. BMO Capital Markets lowered SolarEdge Technologies from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $13.00 to $15.00 in a research note on Thursday. The Goldman Sachs Group lifted their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.30.

SolarEdge Technologies Trading Down 11.1 %

The firm has a market capitalization of $1.01 billion, a PE ratio of -0.60 and a beta of 1.56. The stock’s 50-day moving average price is $14.40 and its 200 day moving average price is $17.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

Hedge Funds Weigh In On SolarEdge Technologies

Several institutional investors have recently bought and sold shares of the business. Bank Hapoalim BM increased its holdings in SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after buying an additional 812 shares during the period. KBC Group NV increased its holdings in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the period. Jones Financial Companies Lllp boosted its stake in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $27,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in SolarEdge Technologies by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 2,500 shares in the last quarter. 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.