Everence Capital Management Inc. Buys 5,520 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Everence Capital Management Inc. increased its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 58.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,890 shares of the semiconductor company’s stock after acquiring an additional 5,520 shares during the period. Everence Capital Management Inc.’s holdings in SolarEdge Technologies were worth $341,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in SolarEdge Technologies during the second quarter worth about $28,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 289 shares in the last quarter. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the first quarter worth about $64,000. Hexagon Capital Partners LLC raised its holdings in SolarEdge Technologies by 120.8% during the first 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. Finally, First Pacific Financial raised its holdings in SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 1,805 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 1.7 %

SEDG opened at $17.01 on Tuesday. SolarEdge Technologies, Inc. has a fifty-two week low of $16.45 and a fifty-two week high of $103.15. The company has a fifty day moving average of $21.73 and a 200 day moving average of $35.42. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last released its 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). The firm had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue was down 73.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.06 EPS. As a group, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -8.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SEDG. Glj Research downgraded SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. William Blair began coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Wells Fargo & Company lowered their price target on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 2nd. Truist Financial reissued a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. Finally, Bank of America lowered their price target on SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Seven analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.44.

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.