SG Americas Securities LLC grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 592.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,736 shares of the semiconductor company’s stock after acquiring an additional 117,841 shares during the period. SG Americas Securities LLC owned about 0.24% of SolarEdge Technologies worth $1,873,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after buying an additional 564,490 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of SolarEdge Technologies by 655.2% during the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 4,567 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of SolarEdge Technologies by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after buying an additional 10,515 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after buying an additional 25,474 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of SolarEdge Technologies during the 3rd quarter valued at approximately $278,000. 95.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
SEDG has been the topic of a number of recent research reports. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Mizuho cut shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Roth Mkm lowered their target price on shares of SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.84.
Insiders Place Their Bets
In other news, Chairman More Avery purchased 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.67% of the company’s stock.
SolarEdge Technologies Price Performance
SEDG stock opened at $14.68 on Monday. The firm has a market cap of $850.71 million, a P/E ratio of -0.51 and a beta of 1.56. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $87.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm’s fifty day moving average is $13.96 and its 200 day moving average is $18.84.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue was down 64.0% on a year-over-year basis. During the same period last year, the business earned ($1.03) EPS. Research analysts predict that SolarEdge Technologies, Inc. will post -23.2 earnings per share for the current year.
SolarEdge Technologies Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.
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