SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 4.5%

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price traded down 4.5% during trading on Monday . The stock traded as low as $62.26 and last traded at $62.41. 608,136 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,393,598 shares. The stock had previously closed at $65.35.

Analyst Ratings Changes

Several research firms have weighed in on SEDG. Barclays boosted their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday. Citigroup cut their target price on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “hold” rating and set a $75.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, February 21st. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Finally, BMO Capital Markets reduced their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.28.

SolarEdge Technologies Stock Performance

The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 132.27 and a beta of 1.51. The firm’s 50-day moving average is $70.53 and its two-hundred day moving average is $80.58. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, sell-side analysts expect that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current year.

Insider Buying and Selling

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its holdings in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after purchasing an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after buying an additional 778,034 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 371.8% during the 4th quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company’s stock worth $62,293,000 after buying an additional 524,476 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in shares of SolarEdge Technologies during the 4th quarter valued at approximately $42,644,000. Finally, Norges Bank acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $39,547,000. 95.10% of the stock is currently 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.