SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,159 shares of the semiconductor company’s stock after selling 2,461 shares during the period. Quest Partners LLC’s holdings in SolarEdge Technologies were worth $210,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AMG National Trust Bank bought a new stake in SolarEdge Technologies during the third quarter valued at $4,055,000. Mizuho Markets Americas LLC increased its stake in SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after purchasing an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. grew its position in shares of SolarEdge Technologies by 9.6% during the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after acquiring an additional 51,065 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of SolarEdge Technologies during the third quarter worth about $1,495,000. Finally, E. Ohman J or Asset Management AB grew its position in shares of SolarEdge Technologies by 109.3% during the third quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock worth $8,559,000 after acquiring an additional 195,085 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank lowered their price target 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. UBS Group lowered their price target on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their target price for the company from $27.00 to $17.00 in a research report on Tuesday, September 17th. Susquehanna decreased their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $9.00 target price (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.79.

SolarEdge Technologies Stock Performance

SEDG opened at $14.86 on Thursday. The business’s fifty day moving average is $17.08 and its 200-day moving average is $26.67. The firm has a market cap of $861.14 million, a P/E ratio of -0.53 and a beta of 1.59. 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, Inc. has a 52-week low of $10.24 and a 52-week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released 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). 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 analyst estimates of $272.80 million. During the same period last year, the business earned ($1.03) earnings per share. The business’s quarterly revenue was down 64.0% compared to the same quarter last year. Sell-side analysts expect that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average cost 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 in the company, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is owned by corporate insiders.

SolarEdge Technologies 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.