SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 72.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,699 shares of the semiconductor company’s stock after selling 61,091 shares during the quarter. Stifel Financial Corp’s holdings in SolarEdge Technologies were worth $543,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SEDG. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth approximately $28,000. KBC Group NV increased its holdings in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares in the last quarter. US Bancorp DE boosted its position in SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares in the last quarter. GFG Capital LLC purchased a new position in SolarEdge Technologies during the 3rd quarter valued at about $229,000. Finally, Magnetar Financial LLC acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at $286,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEDG. JPMorgan Chase & Co. reduced their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. The Goldman Sachs Group upgraded shares of SolarEdge Technologies from a “sell” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $19.00 in a research note on Tuesday, December 17th. Truist Financial dropped their price objective on SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Finally, TD Cowen decreased their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.40.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $14.58 on Friday. The stock’s fifty day moving average is $14.41 and its 200-day moving average is $21.63. The firm has a market capitalization of $844.91 million, a price-to-earnings ratio of -0.50 and a beta of 1.56. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $97.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 EPS for the current year.

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.