Healthcare of Ontario Pension Plan Trust Fund Grows Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,738 shares of the semiconductor company’s stock after purchasing an additional 5,238 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.32% of SolarEdge Technologies worth $4,278,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies during the second quarter worth approximately $28,000. KBC Group NV raised its stake in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares during the period. First Pacific Financial lifted its position in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares in the last quarter. US Bancorp DE grew its stake in SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 4,834 shares during the period. Finally, GFG Capital LLC purchased a new stake in SolarEdge Technologies in the 3rd quarter worth $229,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery bought 156,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $15.80 on Friday. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $103.15. The firm’s 50 day moving average price is $16.73 and its 200-day moving average price is $26.26. The firm has a market cap of $915.61 million, a P/E ratio of -0.54 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 (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.03) EPS. As a group, equities research analysts predict that SolarEdge Technologies, Inc. will post -19.05 EPS for the current year.

Analyst Ratings Changes

SEDG has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, November 7th. Mizuho cut 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 report on Thursday, November 7th. TD Cowen cut their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group downgraded 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. Finally, Morgan Stanley reiterated an “underweight” rating and set a $9.00 price target (down from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.04.

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.