GAMMA Investing LLC Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GAMMA Investing LLC raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 655.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,264 shares of the semiconductor company’s stock after acquiring an additional 4,567 shares during the quarter. GAMMA Investing LLC’s holdings in SolarEdge Technologies were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank Hapoalim BM grew its holdings in shares of SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after purchasing an additional 812 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in SolarEdge Technologies by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,175 shares during the period. KBC Group NV boosted its position in SolarEdge Technologies by 95.8% in the 3rd 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 during the period. ProShare Advisors LLC grew its stake in SolarEdge Technologies by 15.6% in the 2nd quarter. ProShare Advisors LLC now owns 11,599 shares of the semiconductor company’s stock worth $293,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its position in shares of SolarEdge Technologies by 10.5% during the second quarter. Ensign Peak Advisors Inc now owns 18,491 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 1,750 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman More Avery acquired 156,000 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, with a total value 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. This represents a 176.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

SolarEdge Technologies Trading Down 1.9 %

NASDAQ:SEDG opened at $14.71 on Friday. The company has a market capitalization of $852.44 million, a P/E ratio of -0.51 and a beta of 1.56. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $87.98. The firm has a fifty day simple moving average of $13.99 and a 200-day simple moving average of $19.71.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly 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 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 business’s revenue was down 64.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.03) EPS. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SEDG shares. BMO Capital Markets dropped their price objective on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Susquehanna lowered their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company cut their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Mizuho lowered shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.16.

About SolarEdge Technologies

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.