Invenomic Capital Management LP Sells 47,877 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Invenomic Capital Management LP lowered its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 407,723 shares of the semiconductor company’s stock after selling 47,877 shares during the period. SolarEdge Technologies makes up 1.5% of Invenomic Capital Management LP’s holdings, making the stock its 18th biggest holding. Invenomic Capital Management LP owned 0.71% of SolarEdge Technologies worth $28,940,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quadrature Capital Ltd raised its position in shares of SolarEdge Technologies by 1,206.8% in the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock valued at $17,080,000 after buying an additional 222,218 shares in the last quarter. EntryPoint Capital LLC acquired a new position in SolarEdge Technologies during the first quarter valued at approximately $64,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in SolarEdge Technologies by 16.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 146,005 shares of the semiconductor company’s stock worth $10,363,000 after purchasing an additional 20,545 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in SolarEdge Technologies by 2.0% during the first quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock worth $38,980,000 after purchasing an additional 10,866 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after purchasing an additional 62,942 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SEDG shares. Citigroup dropped their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. TD Cowen dropped their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Scotiabank reduced their price target on shares of SolarEdge Technologies from $72.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 25th. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $56.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Morgan Stanley cut their target price on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $69.58.

SolarEdge Technologies Trading Up 0.7 %

Shares of SEDG stock traded up $0.20 during trading hours on Tuesday, hitting $27.01. 1,548,294 shares of the company were exchanged, compared to its average volume of 3,141,184. The company has a 50 day simple moving average of $35.20 and a two-hundred day simple moving average of $55.32. The firm has a market cap of $1.55 billion, a P/E ratio of -5.81 and a beta of 1.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. SolarEdge Technologies, Inc. has a fifty-two week low of $23.51 and a fifty-two week high of $244.42.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The company had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -6.76 EPS for the current year.

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.