GAMMA Investing LLC increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 655.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,264 shares of the semiconductor company’s stock after purchasing an additional 4,567 shares during the quarter. GAMMA Investing LLC’s holdings in SolarEdge Technologies were worth $72,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of SEDG. Tidal Investments LLC lifted its holdings in SolarEdge Technologies by 19.7% in the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock valued at $1,463,000 after acquiring an additional 10,515 shares during the period. Geode Capital Management LLC lifted its stake in shares of SolarEdge Technologies by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of SolarEdge Technologies in the third quarter worth approximately $278,000. Two Sigma Advisers LP grew its position in SolarEdge Technologies by 0.3% during the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after buying an additional 3,400 shares during the period. Finally, Soros Fund Management LLC purchased a new stake in SolarEdge Technologies during the third quarter valued at approximately $5,293,000. 95.10% of the stock is owned by institutional investors.
SolarEdge Technologies Stock Performance
Shares of NASDAQ:SEDG opened at $14.71 on Friday. The firm has a fifty day simple moving average of $13.99 and a two-hundred day simple moving average of $19.71. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $87.98. 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 stock has a market capitalization of $852.44 million, a P/E ratio of -0.51 and a beta of 1.56.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. TD Cowen dropped their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Jefferies Financial Group cut SolarEdge Technologies from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $27.00 to $17.00 in a research report on Tuesday, September 17th. Piper Sandler cut SolarEdge Technologies from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $17.00 to $9.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.16.
Check Out Our Latest Stock Report on SolarEdge Technologies
Insider Transactions at SolarEdge Technologies
In other news, Chairman More Avery purchased 156,000 shares of the company’s stock in a transaction that occurred 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 owns 244,478 shares in the company, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.67% of the company’s stock.
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.
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