SG Americas Securities LLC Raises Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SG Americas Securities LLC boosted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 592.3% in the fourth quarter, HoldingsChannel reports. The fund owned 137,736 shares of the semiconductor company’s stock after acquiring an additional 117,841 shares during the period. SG Americas Securities LLC’s holdings in SolarEdge Technologies were worth $1,873,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Quarry LP purchased a new position in SolarEdge Technologies during the 2nd quarter valued at about $36,627,000. Two Sigma Advisers LP lifted its position 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 valued at $26,166,000 after acquiring an additional 3,400 shares during the period. M&G PLC lifted its position in SolarEdge Technologies by 4.2% during the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock valued at $21,452,000 after acquiring an additional 38,001 shares during the period. Assenagon Asset Management S.A. lifted its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after acquiring an additional 564,490 shares during the period. Finally, Geode Capital Management LLC lifted its position in SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after acquiring an additional 25,474 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Up 8.1 %

Shares of SEDG stock opened at $14.68 on Monday. The company has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $18.84. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The stock has a market cap of $850.71 million, a P/E ratio of -0.51 and a beta of 1.56. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $87.98.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same period last year, the company earned ($1.03) earnings per share. On average, research analysts expect that SolarEdge Technologies, Inc. will post -23.2 earnings per share for the current year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

SEDG has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their target price on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, January 7th. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Citigroup reaffirmed a “sell” rating and issued a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. UBS Group decreased their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Truist Financial decreased their target price on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, January 16th. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.84.

Read Our Latest Research Report on SolarEdge Technologies

About SolarEdge Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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