SolarEdge Technologies (NASDAQ:SEDG) Trading Down 8.5% – What’s Next?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s share price dropped 8.5% during mid-day trading on Wednesday . The stock traded as low as $16.11 and last traded at $15.81. Approximately 865,865 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 4,044,840 shares. The stock had previously closed at $17.29.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SEDG shares. Susquehanna lifted their price target on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Truist Financial dropped their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group upped their price target on SolarEdge Technologies from $9.00 to $12.00 and gave the stock an “underperform” rating in a research note on Friday, February 21st. Finally, Piper Sandler upped their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $21.80.

SolarEdge Technologies Stock Down 0.5 %

The company has a market cap of $931.71 million, a PE ratio of -0.51 and a beta of 1.78. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $15.61 and its 200 day moving average is $16.01.

Insider Buying and Selling

In related news, Chairman More Avery bought 30,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now owns 274,478 shares of the company’s stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $61,000. Finally, GAMMA Investing LLC increased its position in shares of SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the period. Institutional investors own 95.10% of the company’s stock.

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.