SolarEdge stock was dropping early Wednesday after Citigroup analysts recommended selling shares of the solar energy company, citing deteriorating fundamentals in the European market. The move comes after SolarEdge announced its fourth round of layoffs in a year,

Goldman Sachs raises SolarEdge price target to $21. Analyst expects positive cash flow and revised EPS estimates for 2024-2026.

The vast majority of analysts are already bearish on SolarEdge Technologies stock. Only two of the 35 analysts in question carry a "buy" rating, with 25 a "hold," and eight a "sell" or worse. SEDG broke above pressure at $15 on Monday after the company announced it was cutting 400 jobs,