SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 10.3% - Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s stock price fell 10.3% on Thursday . The stock traded as low as $17.62 and last traded at $17.61. 2,503,108 shares traded hands during trading, a decline of 47% from the average session volume of 4,698,168 shares. The stock had previously closed at $19.63.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SEDG. Royal Bank of Canada lifted their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Thursday. Guggenheim raised SolarEdge Technologies from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Roth Mkm boosted their price target on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Northland Securities lowered SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price target on the stock. in a research note on Thursday. 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $21.65.

SolarEdge Technologies Trading Down 3.1 %

The company has a market cap of $1.02 billion, a P/E ratio of -0.56 and a beta of 1.56. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $14.59 and a two-hundred day moving average price of $17.24.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of SolarEdge Technologies by 2,191.0% during the third quarter. International Assets Investment Management LLC now owns 25,407 shares of the semiconductor company's stock worth $582,000 after purchasing an additional 24,298 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of SolarEdge Technologies by 56.6% during the third quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company's stock worth $7,093,000 after purchasing an additional 111,944 shares during the period. E. Ohman J or Asset Management AB grew its stake in shares of SolarEdge Technologies by 109.3% during the third quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company's stock worth $8,559,000 after purchasing an additional 195,085 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of SolarEdge Technologies by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,000 shares of the semiconductor company's stock worth $694,000 after purchasing an additional 2,500 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of SolarEdge Technologies during the third quarter worth $1,495,000. Institutional investors own 95.10% of the company's stock.

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.