SolarEdge Technologies (NASDAQ:SEDG) Stock Price Down 4.8% – Should You Sell?

by · The Cerbat Gem

SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Free Report)’s share price was down 4.8% during mid-day trading on Thursday . The stock traded as low as $18.05 and last traded at $18.08. Approximately 1,034,474 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 3,250,517 shares. The stock had previously closed at $19.00.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SEDG shares. Piper Sandler dropped their price objective on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. DZ Bank cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, July 17th. Morgan Stanley dropped their target price on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, William Blair started coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.65.

View Our Latest Report on SolarEdge Technologies

SolarEdge Technologies Stock Down 5.1 %

The firm’s 50-day simple moving average is $22.53 and its 200 day simple moving average is $38.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The stock has a market capitalization of $1.03 billion, a P/E ratio of -3.85 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The company had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same period last year, the company posted $2.06 earnings per share. As a group, research analysts expect that SolarEdge Technologies, Inc. will post -8.56 EPS for the current year.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP grew its position in shares of SolarEdge Technologies by 110.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after acquiring an additional 20,654 shares during the period. Albion Financial Group UT raised its stake in SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 955 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of SolarEdge Technologies by 3,750.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after buying an additional 45,000 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $678,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $679,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

(Get Free Report)

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.

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