SolarEdge Technologies (NASDAQ:SEDG) Shares Down 4.8% Following Analyst Downgrade

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares traded down 4.8% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $12.00 to $9.00. Jefferies Financial Group currently has an underperform rating on the stock. SolarEdge Technologies traded as low as $13.56 and last traded at $13.25. 551,996 shares were traded during trading, a decline of 87% from the average session volume of 4,175,801 shares. The stock had previously closed at $13.92.

Other equities analysts also recently issued reports about the company. Morgan Stanley upgraded SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $18.00 in a research report on Thursday, February 20th. Roth Mkm increased their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. The Goldman Sachs Group increased their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada raised their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, Northland Securities lowered shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price objective for the company. in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.53.

Insider Buying and Selling

In other news, Chairman More Avery acquired 30,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEDG. Fifth Third Bancorp increased its position in shares of SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 790 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of 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 acquiring an additional 1,954 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at about $27,000. 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 valued at $53,000 after buying an additional 2,770 shares during the period. Finally, Meitav Investment House Ltd. lifted its stake in shares of SolarEdge Technologies by 0.6% during the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 3,282 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Trading Down 1.6 %

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 stock has a market capitalization of $734.20 million, a price-to-earnings ratio of -0.40 and a beta of 1.63. The business has a 50 day simple moving average of $15.72 and a 200-day simple moving average of $15.33.

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.