SolarEdge Technologies (NASDAQ:SEDG) Shares Down 8.5% - Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) shares traded down 8.5% during trading on Wednesday . The company traded as low as $16.11 and last traded at $15.81. 865,865 shares changed hands during trading, a decline of 79% from the average session volume of 4,044,840 shares. The stock had previously closed at $17.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SEDG shares. Roth Mkm upped their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, February 21st. Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. BMO Capital Markets cut shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their target price for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Truist Financial decreased their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, January 16th. Finally, Barclays lifted their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.80.

SolarEdge Technologies Trading Up 3.1 %

The firm has a market cap of $980.50 million, a P/E ratio of -0.53 and a beta of 1.78. The firm has a fifty day moving average of $15.75 and a 200-day moving average of $15.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of SolarEdge Technologies

Large investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC bought a new position in shares of SolarEdge Technologies in the fourth quarter worth $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SolarEdge Technologies by 6.9% in 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 buying an additional 15,549 shares in the last quarter. Voloridge Investment Management LLC increased its stake in SolarEdge Technologies by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company's stock valued at $11,780,000 after buying an additional 11,926 shares during the period. Sphera Management Technology Funds Ltd bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth about $816,000. Finally, Two Sigma Advisers LP boosted 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 valued at $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 and hedge funds.

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.