Brookstone Capital Management Acquires New Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Brookstone Capital Management bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 1st quarter, HoldingsChannel reports. The firm bought 4,932 shares of the semiconductor company’s stock, valued at approximately $350,000.

A number of other institutional investors have also added to or reduced their stakes in SEDG. Manchester Capital Management LLC boosted its stake in shares of SolarEdge Technologies by 1,345.0% during the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC bought a new stake in SolarEdge Technologies during the 4th quarter valued at $30,000. Versant Capital Management Inc increased its holdings in shares of SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 640 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of SolarEdge Technologies by 92.9% during the 4th quarter. CWM LLC now owns 1,250 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Scotiabank lowered their price target on shares of SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 25th. Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Northland Securities downgraded shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group dropped their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research report on Tuesday, June 25th. Four research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $76.35.

SolarEdge Technologies Trading Down 5.1 %

Shares of SolarEdge Technologies stock opened at $23.97 on Tuesday. The firm has a 50-day simple moving average of $46.99 and a two-hundred day simple moving average of $64.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. SolarEdge Technologies, Inc. has a fifty-two week low of $23.96 and a fifty-two week high of $288.87. The company has a market cap of $1.37 billion, a P/E ratio of -5.15 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -6.52 earnings per share for the current fiscal year.

About SolarEdge Technologies

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.