SolarEdge Technologies Inc. (NASDAQ:SEDG) shares dropped 2.8% during mid-day trading on Wednesday . The stock traded as low as $17.40 and last traded at $17.74, with a volume of 268,281 shares traded. The stock had previously closed at $18.26.

SEDG has been the topic of several research reports. Goldman Sachs Group Inc. downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $25.00 in a report on Tuesday, May 10th. JPMorgan Chase & Co. set a $31.00 target price on shares of SolarEdge Technologies and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price (down from $38.00) on shares of SolarEdge Technologies in a research report on Tuesday, May 10th. Canaccord Genuity reiterated a “buy” rating on shares of SolarEdge Technologies in a research report on Tuesday, May 10th. Finally, FBR & Co reiterated a “buy” rating on shares of SolarEdge Technologies in a research report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. SolarEdge Technologies currently has a consensus rating of “Buy” and an average target price of $27.50.

The company has a market capitalization of $731.93 million and a P/E ratio of 10.38. The firm has a 50-day moving average price of $18.55 and a 200 day moving average price of $22.61.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company earned $124.80 million during the quarter, compared to the consensus estimate of $129.63 million. SolarEdge Technologies’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. On average, analysts anticipate that SolarEdge Technologies Inc. will post $1.94 EPS for the current year.

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

An institutional investor recently raised its position in SolarEdge Technologies stock. Morgan Stanley increased its stake in shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,784 shares of the company’s stock after buying an additional 8,612 shares during the period. Morgan Stanley owned approximately 0.10% of SolarEdge Technologies worth $1,064,000 at the end of the most recent reporting period.

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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