SolarEdge Technologies (NASDAQ:SEDG) Trading Down 7.1% - What's Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) shares dropped 7.1% on Monday . The stock traded as low as $13.50 and last traded at $13.67. Approximately 1,220,083 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,105,868 shares. The stock had previously closed at $14.71.

Analyst Upgrades and Downgrades

SEDG has been the subject of several analyst reports. Barclays lifted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Tuesday, January 14th. Northland Securities downgraded SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 target price on the stock. in a report on Thursday, February 20th. Piper Sandler increased their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Northland Capmk downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 20th. Finally, Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.80.

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SolarEdge Technologies Stock Up 10.2 %

The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average price is $15.80 and its 200-day moving average price is $15.48. The company has a market cap of $750.07 million, a price-to-earnings ratio of -0.41 and a beta of 1.63.

Insider Buying and Selling 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 shares were acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp lifted its position in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings 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 worth $53,000 after purchasing an additional 2,770 shares during the last quarter. R Squared Ltd bought a new position in SolarEdge Technologies in the fourth quarter valued at $61,000. Finally, GAMMA Investing LLC lifted its position in SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after buying an additional 4,567 shares in the last quarter. 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.