SolarEdge Technologies (NASDAQ:SEDG) Shares Down 6.9% - Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report)'s share price fell 6.9% during mid-day trading on Friday . The stock traded as low as $16.62 and last traded at $16.66. 1,282,415 shares changed hands during trading, a decline of 73% from the average session volume of 4,732,335 shares. The stock had previously closed at $17.89.

Analyst Ratings Changes

SEDG has been the topic of a number of analyst reports. UBS Group increased their target price on SolarEdge Technologies from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Morgan Stanley raised SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $21.65.

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SolarEdge Technologies Stock Up 6.1 %

The firm has a 50-day simple moving average of $15.01 and a 200 day simple moving average of $16.94. The company has a market capitalization of $880.86 million, a PE ratio of -0.49 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC bought a new stake in SolarEdge Technologies in the fourth quarter valued at about $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SolarEdge Technologies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company's stock valued at $3,282,000 after acquiring an additional 15,549 shares during the last quarter. Voloridge Investment Management LLC boosted 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 buying an additional 11,926 shares during the period. Sphera Management Technology Funds Ltd purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $816,000. Finally, Two Sigma Advisers LP raised its holdings in shares of SolarEdge Technologies by 1.6% during 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 hedge funds and other institutional investors.

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.