SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 105.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,196 shares of the semiconductor company’s stock after buying an additional 14,503 shares during the quarter. GSA Capital Partners LLP’s holdings in SolarEdge Technologies were worth $646,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of SolarEdge Technologies by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 700 shares during the last quarter. Bank Hapoalim BM lifted its holdings in shares of SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after purchasing an additional 812 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of SolarEdge Technologies by 1.6% during the first quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company’s stock valued at $3,672,000 after purchasing an additional 827 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at $64,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $10.85 on Tuesday. The stock has a 50 day moving average of $18.05 and a two-hundred day moving average of $28.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies, Inc. has a 12 month low of $10.37 and a 12 month high of $103.15. The company has a market capitalization of $628.76 million, a P/E ratio of -0.37 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same quarter in the prior year, the business posted ($1.03) EPS. SolarEdge Technologies’s revenue was down 64.0% compared to the same quarter last year. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -17.69 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SEDG. Scotiabank reduced their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their target price on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their target price for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Finally, Roth Mkm dropped their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Ten research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.79.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery purchased 156,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.67% of the stock is owned by insiders.

SolarEdge Technologies Company 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.