Rathbones Group PLC Lowers Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Rathbones Group PLC trimmed its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 53.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,400 shares of the semiconductor company’s stock after selling 45,347 shares during the quarter. Rathbones Group PLC owned approximately 0.07% of SolarEdge Technologies worth $995,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SEDG. Quest Partners LLC acquired a new position in shares of SolarEdge Technologies in the second quarter worth about $294,000. Tortoise Capital Advisors L.L.C. raised its holdings in SolarEdge Technologies by 31.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 99,522 shares of the semiconductor company’s stock worth $2,514,000 after purchasing an additional 23,844 shares during the period. Rhumbline Advisers boosted its position in SolarEdge Technologies by 3.6% during the second quarter. Rhumbline Advisers now owns 104,092 shares of the semiconductor company’s stock worth $2,629,000 after purchasing an additional 3,572 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in SolarEdge Technologies in the second quarter valued at approximately $632,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at approximately $28,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Trading Up 11.4 %

Shares of SEDG stock opened at $21.95 on Tuesday. SolarEdge Technologies, Inc. has a 1-year low of $17.12 and a 1-year high of $141.70. The firm has a market cap of $1.26 billion, a PE ratio of -4.72 and a beta of 1.56. The company has a 50-day moving average of $24.89 and a two-hundred day moving average of $43.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SEDG shares. Roth Mkm decreased their target price on SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada decreased 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. Morgan Stanley cut their target price on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on shares of SolarEdge Technologies in a research report on Wednesday, September 4th. They set a “hold” rating and a $27.00 price target for the company. Finally, Piper Sandler lowered their price objective on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, twenty-six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price 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.