Insider Buying: SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman Buys $2,129,400.00 in Stock

SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $10.64 on Friday. The company’s 50 day moving average is $18.19 and its 200-day moving average is $29.31. SolarEdge Technologies, Inc. has a 12-month low of $10.55 and a 12-month high of $103.15. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The firm has a market cap of $616.59 million, a P/E ratio of -0.37 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same period last year, the firm earned ($1.03) EPS. The business’s revenue for the quarter was down 64.0% on a year-over-year basis. Sell-side analysts predict that SolarEdge Technologies, Inc. will post -17.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SEDG shares. Scotiabank reduced their price objective on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $21.00 to $14.00 in a report on Thursday, November 7th. The Goldman Sachs Group dropped their price target on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Barclays lowered their target price on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research note on Friday. Ten analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $22.79.

Institutional Trading of SolarEdge Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB bought a new stake in SolarEdge Technologies during the 1st quarter worth approximately $261,312,000. Vanguard Group Inc. increased its holdings in SolarEdge Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after acquiring an additional 62,942 shares during the period. Quarry LP bought a new stake in SolarEdge Technologies during the 2nd quarter worth approximately $36,627,000. Two Sigma Advisers LP increased its holdings in SolarEdge Technologies by 0.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock worth $26,166,000 after acquiring an additional 3,400 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in SolarEdge Technologies by 0.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after acquiring an additional 2,795 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Company 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.