SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 4.5%

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price traded down 4.5% on Monday . The company traded as low as $62.26 and last traded at $62.41. 608,136 shares changed hands during trading, a decline of 75% from the average session volume of 2,393,598 shares. The stock had previously closed at $65.35.

Analyst Ratings Changes

SEDG has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 price target on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Susquehanna decreased their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research note on Friday, April 5th. TD Cowen dropped their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Citigroup dropped their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.28.

SolarEdge Technologies Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The company has a market capitalization of $3.40 billion, a PE ratio of 132.27 and a beta of 1.51. The business has a fifty day moving average price of $70.53 and a 200 day moving average price of $80.58.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. Analysts expect that SolarEdge Technologies, Inc. will post -4.04 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of hedge funds have recently made changes to their positions in SEDG. Baillie Gifford & Co. grew its holdings in SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after buying an additional 778,034 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in SolarEdge Technologies by 371.8% during the 4th quarter. Voloridge Investment Management LLC now owns 665,524 shares of the semiconductor company’s stock worth $62,293,000 after buying an additional 524,476 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $42,644,000. Finally, Norges Bank bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at approximately $39,547,000. Institutional investors and hedge funds 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.