Aristides Capital LLC Takes $223,000 Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Aristides Capital LLC bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 16,400 shares of the semiconductor company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after buying an additional 641,915 shares during the period. Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies by 0.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock worth $26,166,000 after purchasing an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in SolarEdge Technologies by 0.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock valued at $13,760,000 after purchasing an additional 8,079 shares during the last quarter. Assenagon Asset Management S.A. raised its position in SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares during the period. Finally, Geode Capital Management LLC lifted its stake in SolarEdge Technologies by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 728,259 shares of the semiconductor company’s stock worth $9,909,000 after purchasing an additional 20,215 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Citigroup reiterated a “sell” rating and issued a $9.00 target price (down previously from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. UBS Group boosted their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada upped their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Susquehanna boosted their price objective on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.80.

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $14.71 on Monday. The company has a 50 day moving average of $15.86 and a two-hundred day moving average of $15.79. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $72.12. The company has a market cap of $864.70 million, a price-to-earnings ratio of -0.47 and a beta of 1.63.

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.