GSA Capital Partners LLP Acquires 14,503 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GSA Capital Partners LLP raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 105.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,196 shares of the semiconductor company’s stock after purchasing an additional 14,503 shares during the quarter. GSA Capital Partners LLP’s holdings in SolarEdge Technologies were worth $646,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SEDG. International Assets Investment Management LLC bought a new position in SolarEdge Technologies in the 2nd quarter valued at $28,000. EntryPoint Capital LLC bought a new stake in shares of SolarEdge Technologies during the first quarter worth $64,000. First Pacific Financial raised its position in shares of 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 during the last quarter. US Bancorp DE raised its position in shares of 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 acquiring an additional 4,834 shares during the last quarter. Finally, GFG Capital LLC bought a new stake in shares of SolarEdge Technologies during the third quarter worth $229,000. Institutional investors own 95.10% of the company’s stock.

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 shares were acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SEDG. Citigroup dropped their target price on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Canaccord Genuity Group dropped their target price on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. UBS Group dropped their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group dropped their target price on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, November 7th. Finally, Barclays decreased their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research note on Friday. Ten research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.79.

SolarEdge Technologies Stock Up 2.0 %

SEDG stock opened at $10.85 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The stock has a market capitalization of $628.76 million, a P/E ratio of -0.37 and a beta of 1.59. The business has a 50-day moving average of $18.05 and a 200-day moving average of $28.56. SolarEdge Technologies, Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 64.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.03) earnings per share. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -17.69 earnings per share for the current fiscal 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.