Bank Hapoalim BM Acquires 8,053 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Bank Hapoalim BM lifted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 24.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,626 shares of the semiconductor company’s stock after acquiring an additional 8,053 shares during the period. Bank Hapoalim BM’s holdings in SolarEdge Technologies were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. AMG National Trust Bank purchased a new stake in shares of SolarEdge Technologies during the third quarter valued at approximately $4,055,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SolarEdge Technologies by 683.1% during the third 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 during the last quarter. Mizuho Markets Americas LLC increased its position in shares of SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after acquiring an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. increased its position in shares of SolarEdge Technologies by 9.6% during 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. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of SolarEdge Technologies during the third quarter valued at approximately $1,495,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SEDG. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on SolarEdge Technologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Guggenheim raised SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Roth Mkm decreased their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Eight investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.84.

View Our Latest Stock Analysis on SolarEdge Technologies

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $13.89 on Wednesday. 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 business has a 50-day moving average price of $14.20 and a two-hundred day moving average price of $18.10. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $87.98.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. During the same period last year, the firm earned ($1.03) EPS. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. Research analysts predict that SolarEdge Technologies, Inc. will post -23.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman More Avery acquired 156,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were purchased 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 in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.67% of the company’s stock.

SolarEdge Technologies Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report).

Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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