What happened Shares of SolarEdge Technologies Inc (NASDAQ: SEDG) fell as much as 12.8% in trading Monday after being downgraded by an analyst. Shares closed the day down 12.6% on more than double the average volume of the last 30 days. So what Gus Richard, an analyst at Northland Capital Markets, downgraded SolarEdge's stock from an outperform rating to a market perform rating and put a $102 price target on the stock. Image source: Getty Images. Even after today's drop, SolarEdge's stock is still up 128%, so a pullback from those big gains is common even if shares continue to move up long-term. It also didn't help that the stock market was down big today and a highly volatile stock like SolarEdge often outpaces what the market does. Now what Stocks can swing wildly after an analyst upgrade or downgrade, but in the long term a stock's rating doesn't determine its performance. Underlying fundamentals are more important for investors and nothing changed today, so in that sense, this is a buying opportunity. SolarEdge has proven to be one of the fastest-growing energy stocks on the market and a key cog in the solar industry. For that reason, it's a good stock to have on your watchlist, even if today isn't the day to jump into shares. 10 stocks we like better than SolarEdge TechnologiesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and SolarEdge Technologies wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool recommends SolarEdge Technologies. The Motley Fool has a disclosure policy.Source