Y.D. More Investments Ltd Increases Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Y.D. More Investments Ltd increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 251.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,870 shares of the semiconductor company’s stock after buying an additional 2,770 shares during the quarter. Y.D. More Investments Ltd’s holdings in SolarEdge Technologies were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank Hapoalim BM raised its holdings in SolarEdge Technologies by 24.0% in the fourth quarter. Bank Hapoalim BM now owns 41,626 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 8,053 shares during the period. R Squared Ltd purchased a new position in shares of SolarEdge Technologies in the 4th quarter valued at $61,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of SolarEdge Technologies by 0.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock valued at $13,760,000 after acquiring an additional 8,079 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter valued at $260,000. Finally, Janney Montgomery Scott LLC purchased a new stake in SolarEdge Technologies during the 4th quarter worth $227,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Buying and Selling

In other news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Roth Mkm reduced their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Barclays boosted their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler downgraded shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and a consensus target price of $20.84.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $14.34 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $14.19 and a 200 day simple moving average of $18.07. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $87.98. The company has a market cap of $831.00 million, a PE ratio of -0.49 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results 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 company had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period last year, the company posted ($1.03) earnings per share. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -23.19 EPS for the current 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.