$SolarEdge Technologies (SEDG.US)$ fell Monday after briefly popping on word of a leadership transition plan that includes the CEO stepping down and a new CFO coming on board to a solar-equipment maker.

SEDG briefly rose 8% to a $31.07 session high on the news before switching gears and falling as much as 9.6% to a $26.01 session low after announcing that Zvi Lando had stepped down as the company's chief executive officer effectively immediately. The company added that its board had initiated a search for a new CEO.

Lando will remain a member of the board, while CFO Ronen Faier will serve as interim CEO. Meanwhile, Ariel Porat, the company's senior vice president of finance, will take over as CFO.

"The road to a full recovery of SolarEdge is still ahead of us, and to drive this recovery at a fast pace requires new energy and leadership," Lando said in announcing the moves. "As such, I have decided to resign from my position as CEO. I am confident the focus areas we have defined and the trajectory we are on will continue the improvement trend."

SolarEdge shares gained more than 14% amid a broader market rally on Friday and climbed in Monday's premarket session before reversing lower at the opening bell.

The stock is currently trading below its $27.52 50-day moving average, with 39.4% of shares having been sold short. It's down some 70% year to date.

Wall Street analysts have an average 12-month price target of $34 on SolarEdge. The Street high target is currently at $71 and the Street low target is $19.

Of all the analysts covering SolarEdge Technologies, four have positive ratings, 23 have neutral ratings and two have negative ratings.