SolarEdge Technologies (NASDAQ:SEDG) Shares Down 5.3% – Time to Sell?

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) were down 5.3% during trading on Tuesday . The company traded as low as $13.33 and last traded at $13.38. Approximately 1,912,046 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,378,192 shares. The stock had previously closed at $14.13.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, January 7th. Roth Mkm dropped their target price on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Bank of America cut SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $21.00 to $14.00 in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Eight analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $20.84.

SolarEdge Technologies Stock Down 5.3 %

The company has a market capitalization of $775.08 million, a PE ratio of -0.46 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The business’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $18.73.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter last year, the company earned ($1.03) EPS. SolarEdge Technologies’s revenue for the quarter was down 64.0% compared to the same quarter last year. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -23.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman More Avery purchased 156,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On SolarEdge Technologies

A number of institutional investors have recently made changes to their positions in SEDG. Y.D. More Investments Ltd lifted its position in SolarEdge Technologies by 251.8% during the fourth 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 acquired a new position in SolarEdge Technologies during the 4th quarter worth $61,000. KBC Group NV raised its stake 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 in the last quarter. GAMMA Investing LLC boosted its holdings in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the period. Finally, US Bancorp DE boosted its position in SolarEdge Technologies by 243.6% during the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

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.