SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman More Avery Purchases 156,000 Shares

SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman More Avery acquired 156,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the purchase, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded down $1.17 on Wednesday, reaching $11.07. 4,904,702 shares of the company were exchanged, compared to its average volume of 3,502,612. The firm has a market cap of $641.51 million, a price-to-earnings ratio of -0.39 and a beta of 1.59. The company’s 50-day moving average is $18.71 and its two-hundred day moving average is $29.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies, Inc. has a 1-year low of $11.02 and a 1-year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate 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 last year, the company posted ($1.03) EPS. SolarEdge Technologies’s revenue for the quarter was down 64.0% on a year-over-year basis. As a group, research analysts expect that SolarEdge Technologies, Inc. will post -17.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently bought and sold shares of SEDG. Trillium Asset Management LLC grew its holdings in shares of SolarEdge Technologies by 1.6% in the 1st quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock worth $1,960,000 after acquiring an additional 427 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. raised its holdings in SolarEdge Technologies by 5.1% during 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 in the last quarter. Swiss National Bank lifted its holdings in SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 600 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of SolarEdge Technologies by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after buying an additional 700 shares during the last quarter. Finally, Bank Hapoalim BM lifted its position in SolarEdge Technologies by 2.5% during the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after acquiring an additional 812 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, November 7th. Truist Financial cut their target price on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group lowered SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Scotiabank decreased their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, William Blair began coverage on SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.79.

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.