SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Down - Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $16.49, but opened at $15.83. SolarEdge Technologies shares last traded at $15.58, with a volume of 1,118,821 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on SEDG. Barclays upped their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Tuesday, January 14th. Citigroup reiterated a "sell" rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Piper Sandler boosted their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. Finally, Glj Research raised SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of "Hold" and a consensus target price of $21.65.

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SolarEdge Technologies Stock Up 5.2 %

The business has a fifty day moving average of $15.11 and a 200 day moving average of $16.71. The firm has a market cap of $990.49 million, a P/E ratio of -0.54 and a beta of 1.78. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Activity at SolarEdge Technologies

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 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 acquisition, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of the business. PharVision Advisers LLC bought a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SolarEdge Technologies by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company's stock worth $3,282,000 after acquiring an additional 15,549 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 1.4% in the fourth quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company's stock worth $11,780,000 after acquiring an additional 11,926 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $816,000. Finally, Two Sigma Advisers LP increased its holdings in shares of SolarEdge Technologies by 1.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company's stock worth $15,781,000 after acquiring an additional 18,300 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

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.