Tidal Investments LLC Buys 10,515 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Tidal Investments LLC increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 19.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,862 shares of the semiconductor company’s stock after purchasing an additional 10,515 shares during the period. Tidal Investments LLC owned approximately 0.11% of SolarEdge Technologies worth $1,463,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SEDG. Quarry LP bought a new position in SolarEdge Technologies in the second quarter valued at about $36,627,000. Two Sigma Advisers LP grew its position in SolarEdge Technologies by 0.3% in 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 acquiring an additional 3,400 shares during the last quarter. M&G PLC grew its position in SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock valued at $21,452,000 after acquiring an additional 38,001 shares during the last quarter. Geode Capital Management LLC grew its position in SolarEdge Technologies by 3.7% in the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after acquiring an additional 25,474 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its position in SolarEdge Technologies by 9.6% in the third quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after acquiring an additional 51,065 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded SolarEdge Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $10.00 to $19.00 in a research report on Tuesday. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Mizuho lowered SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their price target for the company from $35.00 to $11.00 in a research note on Thursday, November 7th. Finally, Piper Sandler lowered SolarEdge Technologies from a “neutral” rating to an “underweight” rating and cut their price target for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. Eight analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $22.40.

SolarEdge Technologies Trading Up 16.6 %

NASDAQ SEDG opened at $14.37 on Wednesday. The company has a market cap of $832.74 million, a price-to-earnings ratio of -0.49 and a beta of 1.56. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $103.15. The business has a 50 day moving average price of $15.08 and a 200-day moving average price of $23.15. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last released 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 firm 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 company’s revenue was down 64.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.03) EPS. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman More Avery purchased 156,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is currently owned by corporate insiders.

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.