SolarEdge Technologies (NASDAQ:SEDG) Sets New 12-Month Low – Should You Sell?

SolarEdge Technologies, Inc. (NASDAQ:SEDG)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $10.32 and last traded at $10.36, with a volume of 2448315 shares trading hands. The stock had previously closed at $10.85.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SEDG shares. The Goldman Sachs Group decreased their price objective on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, November 7th. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group dropped their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Susquehanna dropped their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.79.

SolarEdge Technologies Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The company’s fifty day moving average price is $17.58 and its 200 day moving average price is $27.96. The firm has a market capitalization of $621.22 million, a price-to-earnings ratio of -0.37 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. During the same period last year, the firm posted ($1.03) EPS. The business’s revenue was down 64.0% compared to the same quarter last year. Equities research analysts expect that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current year.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AMG National Trust Bank bought a new position in SolarEdge Technologies in the 3rd quarter worth approximately $4,055,000. Mizuho Markets Americas LLC increased its stake in SolarEdge Technologies by 653.4% in the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after acquiring an additional 163,340 shares during the period. Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after purchasing an additional 51,065 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of SolarEdge Technologies in the 3rd quarter valued at approximately $1,495,000. Finally, E. Ohman J or Asset Management AB raised its holdings in shares of SolarEdge Technologies by 109.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock worth $8,559,000 after buying an additional 195,085 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.