ProShare Advisors LLC Grows Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

ProShare Advisors LLC raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,599 shares of the semiconductor company’s stock after buying an additional 1,569 shares during the period. ProShare Advisors LLC’s holdings in SolarEdge Technologies were worth $293,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 90.0% in 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 during the last quarter. Versant Capital Management Inc raised its holdings in SolarEdge Technologies by 1,066.7% in the first 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 in the last quarter. EntryPoint Capital LLC bought a new position in SolarEdge Technologies during the 1st quarter valued at $64,000. Finally, Hexagon Capital Partners LLC grew its holdings in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after acquiring an additional 610 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on SEDG shares. Scotiabank reduced their price target 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. The Goldman Sachs Group decreased their target price on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Bank of America dropped their price target on SolarEdge Technologies from $31.00 to $25.00 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 for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 2nd. Five analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and an average target price of $49.35.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $20.26 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The firm’s 50 day moving average is $23.31 and its 200-day moving average is $39.65. SolarEdge Technologies, Inc. has a 12-month low of $17.12 and a 12-month high of $130.38. The stock has a market capitalization of $1.16 billion, a P/E ratio of -4.36 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $264.31 million. During the same quarter last year, the firm posted $2.06 EPS. The company’s quarterly revenue was down 73.2% compared to the same quarter last year. Equities research analysts anticipate that SolarEdge Technologies, Inc. will post -8.57 EPS for the current fiscal year.

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.