Y.D. More Investments Ltd Sells 174,056 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Y.D. More Investments Ltd lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 98.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,125 shares of the semiconductor company’s stock after selling 174,056 shares during the period. Y.D. More Investments Ltd’s holdings in SolarEdge Technologies were worth $54,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SEDG. Manchester Capital Management LLC increased its holdings in shares of SolarEdge Technologies by 1,345.0% in the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 269 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc raised its position in 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 buying an additional 640 shares during the last quarter. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies in the 1st quarter valued at approximately $64,000. Finally, International Assets Investment Management LLC acquired a new position in SolarEdge Technologies during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $19.70 on Friday. SolarEdge Technologies, Inc. has a 52 week low of $17.12 and a 52 week high of $147.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm’s 50-day simple moving average is $24.89 and its 200 day simple moving average is $44.14. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -4.24 and a beta of 1.56.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on SEDG. Royal Bank of Canada lowered their price objective on shares of SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Truist Financial restated a “hold” rating and issued a $20.00 price objective on shares of SolarEdge Technologies in a report on Tuesday, August 27th. William Blair started coverage on SolarEdge Technologies in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Four analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.62.

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.