Van ECK Associates Corp Sells 13,962 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Van ECK Associates Corp cut its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,673 shares of the semiconductor company’s stock after selling 13,962 shares during the period. Van ECK Associates Corp owned about 0.11% of SolarEdge Technologies worth $879,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SEDG. Assenagon Asset Management S.A. lifted its stake in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after acquiring an additional 564,490 shares in the last quarter. Soros Fund Management LLC bought a new position in SolarEdge Technologies during the 3rd quarter valued at $5,293,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after acquiring an additional 220,304 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in SolarEdge Technologies by 109.3% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock valued at $8,559,000 after acquiring an additional 195,085 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in SolarEdge Technologies during the 3rd quarter valued at $4,420,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Down 3.1 %

SEDG stock opened at $17.62 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $14.59 and its 200 day moving average is $17.24. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -0.56 and a beta of 1.56. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $78.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SEDG shares. Citigroup reiterated a “sell” rating and set a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Northland Capmk cut SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday. Bank of America cut SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $21.00 to $14.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $21.65.

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.