SolarEdge Technologies (NASDAQ:SEDG) Shares Down 8.6% – Time to Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded down 8.6% during mid-day trading on Monday . The company traded as low as $33.31 and last traded at $33.4020. 949,416 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,616,887 shares. The stock had previously closed at $36.53.

Analyst Ratings Changes

Several research firms have recently weighed in on SEDG. Guggenheim increased their price objective on shares of SolarEdge Technologies from $5.00 to $7.00 and gave the stock a “sell” rating in a research report on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on SolarEdge Technologies from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Morgan Stanley upped their target price on SolarEdge Technologies from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded SolarEdge Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Oppenheimer restated a “market perform” rating on shares of SolarEdge Technologies in a report on Monday, August 11th. Eighteen research analysts have rated the stock with a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $24.62.

SolarEdge Technologies Stock Performance

The firm has a market cap of $2.06 billion, a P/E ratio of -1.15 and a beta of 1.63. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average is $37.29 and its two-hundred day moving average is $29.52.

Institutional Investors Weigh In On SolarEdge Technologies

Hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC purchased a new stake in SolarEdge Technologies during the 3rd quarter worth about $25,000. Hantz Financial Services Inc. increased its position in shares of SolarEdge Technologies by 352.5% during the third quarter. Hantz Financial Services Inc. now owns 733 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 571 shares during the period. Whittier Trust Co. purchased a new stake in shares of SolarEdge Technologies in the third quarter worth about $27,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 600 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in SolarEdge Technologies during the second quarter valued at approximately $35,000. 95.10% of the stock is currently owned by institutional investors.

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.