108,132 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the second quarter, HoldingsChannel.com reports. The fund acquired 108,132 shares of the semiconductor company’s stock, valued at approximately $2,731,000.

Other large investors also recently modified their holdings of the company. Brevan Howard Capital Management LP increased its stake in shares of SolarEdge Technologies by 110.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after acquiring an additional 20,654 shares in the last quarter. Albion Financial Group UT increased its holdings in SolarEdge Technologies by 32.2% during the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 955 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in SolarEdge Technologies by 3,750.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after buying an additional 45,000 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at about $679,000. Finally, Royal London Asset Management Ltd. lifted its position in shares of SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock worth $2,047,000 after buying an additional 378 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEDG has been the subject of a number of recent research reports. Bank of America decreased their target price on SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Truist Financial reissued a “hold” rating and set a $20.00 target price on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Susquehanna dropped their target price on SolarEdge Technologies from $36.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. William Blair began coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Canaccord Genuity Group dropped their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average price target of $51.23.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $22.52 on Wednesday. The business has a 50-day simple moving average of $24.78 and a two-hundred day simple moving average of $43.49. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies, Inc. has a 52 week low of $17.12 and a 52 week high of $141.70. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -4.80 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The firm had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 EPS. On average, analysts expect that SolarEdge Technologies, Inc. will post -8.67 EPS for the current year.

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.