SolarEdge Technologies Inc. (NASDAQ:SEDG) shares dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $17.93 and last traded at $18.07, with a volume of 460,485 shares. The stock had previously closed at $19.04.

SEDG has been the subject of several research analyst reports. Barclays PLC cut SolarEdge Technologies to a “buy” rating in a research note on Monday, June 20th. FBR & Co restated a “buy” rating on shares of SolarEdge Technologies in a research note on Tuesday, May 10th. Needham & Company LLC restated a “buy” rating on shares of SolarEdge Technologies in a research note on Monday, June 27th. TheStreet cut SolarEdge Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, June 1st. Finally, Zacks Investment Research cut SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. SolarEdge Technologies presently has a consensus rating of “Buy” and a consensus price target of $31.33.

The firm has a market cap of $729.07 million and a P/E ratio of 12.51. The company’s 50 day moving average is $19.59 and its 200 day moving average is $23.40.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Monday, May 9th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.10. The firm earned $125.20 million during the quarter, compared to analysts’ expectations of $123.23 million. The firm’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities research analysts anticipate that SolarEdge Technologies Inc. will post $1.70 EPS for the current year.

In other news, VP Yoav Galin sold 10,874 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $21.01, for a total value of $228,462.74. Following the completion of the sale, the vice president now directly owns 444,166 shares of the company’s stock, valued at approximately $9,331,927.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds recently bought and sold shares of SEDG. Alpine Woods Capital Investors LLC bought a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $1,220,000. Schroder Investment Management Group bought a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $1,569,000. Sabal Capital Management LLC bought a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $8,018,000. Turner Investments L.P. bought a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $1,803,000. Finally, BHF Kleinwort Benson Group S.A. increased its stake in SolarEdge Technologies by 57.4% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 132,614 shares of the company’s stock valued at $3,736,000 after buying an additional 48,360 shares in the last quarter.

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.

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