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

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.39, but opened at $11.83. SolarEdge Technologies shares last traded at $11.72, with a volume of 622,358 shares trading hands.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of research reports. Northland Securities lowered shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 target price for the company. in a research note on Thursday, February 20th. Royal Bank of Canada lifted their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Glj Research raised SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Northland Capmk lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, February 20th. Finally, BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their price target for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, SolarEdge Technologies presently has an average rating of "Hold" and an average price target of $21.61.

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SolarEdge Technologies Stock Up 9.1 %

The firm has a 50-day moving average price of $15.80 and a two-hundred day moving average price of $15.44. The company has a market capitalization of $818.26 million, a P/E ratio of -0.45 and a beta of 1.63. 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 other news, Chairman More Avery purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.67% of the company's stock.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently modified their holdings of the company. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Invesco Ltd. increased its holdings in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after buying an additional 116,809 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $17,909,000. Legal & General Group Plc raised its stake in shares of SolarEdge Technologies by 67.6% in the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after buying an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of SolarEdge Technologies by 1.3% during the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock worth $17,060,000 after acquiring an additional 16,258 shares during the period. 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.