SolarEdge Technologies (NASDAQ:SEDG) Trading Down 5.2%

SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell 5.2% during trading on Thursday . The company traded as low as $49.63 and last traded at $50.09. 455,928 shares traded hands during trading, a decline of 81% from the average session volume of 2,370,996 shares. The stock had previously closed at $52.83.

Analyst Upgrades and Downgrades

SEDG has been the subject of a number of recent research reports. Piper Sandler cut their price target on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Scotiabank cut their price target on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st. Wells Fargo & Company cut their price target on SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Royal Bank of Canada cut their price target on SolarEdge Technologies from $74.00 to $71.00 and set a “sector perform” rating for the company in a research note on Thursday, May 9th. Finally, B. Riley cut their price target on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.38.

SolarEdge Technologies Trading Up 1.7 %

The stock has a fifty day simple moving average of $60.03 and a 200-day simple moving average of $71.73. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The company had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. Research analysts expect that SolarEdge Technologies, Inc. will post -6.08 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Trading of SolarEdge Technologies

Institutional investors have recently modified their holdings of the company. Swedbank AB acquired a new position in SolarEdge Technologies in the first quarter worth $261,312,000. Baillie Gifford & Co. lifted its stake in shares of SolarEdge Technologies by 89.3% during the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 108.5% during 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 acquiring an additional 778,034 shares during the period. Invenomic Capital Management LP acquired a new position in shares of SolarEdge Technologies during the fourth quarter valued at $42,644,000. Finally, Norges Bank acquired a new position in shares of SolarEdge Technologies during the fourth quarter valued at $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.