SolarEdge Technologies (NASDAQ:SEDG) Trading Down 4.4% – Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares traded down 4.4% during mid-day trading on Monday . The company traded as low as $16.94 and last traded at $17.07. 687,654 shares were traded during trading, a decline of 85% from the average session volume of 4,587,150 shares. The stock had previously closed at $17.86.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Roth Mkm lifted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group upped 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, February 20th. Finally, Morgan Stanley restated an “underweight” rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.84.

SolarEdge Technologies Price Performance

The business has a fifty day moving average of $15.29 and a 200-day moving average of $14.96. The firm has a market cap of $1.00 billion, a PE ratio of -0.54 and a beta of 1.50. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million for the quarter, compared to analysts’ expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.90) EPS. As a group, research analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Bayforest Capital Ltd raised its holdings in shares of SolarEdge Technologies by 367.3% in the 1st quarter. Bayforest Capital Ltd now owns 57,036 shares of the semiconductor company’s stock valued at $923,000 after acquiring an additional 44,831 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $4,164,000. Goldman Sachs Group Inc. raised its holdings in shares of SolarEdge Technologies by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 997,962 shares of the semiconductor company’s stock valued at $16,147,000 after buying an additional 79,461 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 5,736.7% during the 1st quarter. Jones Financial Companies Lllp now owns 142,474 shares of the semiconductor company’s stock valued at $2,305,000 after buying an additional 140,033 shares in the last quarter. Finally, Interval Partners LP raised its holdings in shares of SolarEdge Technologies by 249.4% during the 1st quarter. Interval Partners LP now owns 76,387 shares of the semiconductor company’s stock valued at $1,236,000 after buying an additional 54,523 shares in the last quarter. Hedge funds and other institutional investors 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.