AMG National Trust Bank Makes New Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

AMG National Trust Bank bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the third quarter, Holdings Channel reports. The firm bought 177,000 shares of the semiconductor company’s stock, valued at approximately $4,055,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mizuho Markets Americas LLC lifted its stake 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 worth $4,315,000 after purchasing an additional 163,340 shares in the last quarter. KBC Group NV raised its holdings in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares during the period. GSA Capital Partners LLP lifted its position in SolarEdge Technologies by 105.9% during the 3rd quarter. GSA Capital Partners LLP now owns 28,196 shares of the semiconductor company’s stock worth $646,000 after acquiring an additional 14,503 shares in the last quarter. M&G PLC boosted its holdings in SolarEdge Technologies by 4.2% in the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after acquiring an additional 38,001 shares during the period. Finally, Harvest Portfolios Group Inc. purchased a new stake in shares of SolarEdge Technologies during the third quarter worth about $353,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Buying and Selling

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Price Performance

SEDG stock opened at $10.64 on Monday. The firm has a 50-day moving average of $18.19 and a two-hundred day moving average of $28.90. The firm has a market capitalization of $616.59 million, a PE ratio of -0.37 and a beta of 1.59. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies, Inc. has a one year low of $10.55 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share 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 analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. On average, analysts forecast that SolarEdge Technologies, Inc. will post -17.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SEDG shares. Scotiabank dropped their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their price objective 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. Glj Research downgraded shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Morgan Stanley restated an “underweight” rating and issued a $9.00 target price (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday. Finally, William Blair began coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.79.

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.