FORA Capital LLC Makes New $2 Million Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

FORA Capital LLC purchased a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the third quarter, HoldingsChannel reports. The institutional investor purchased 87,237 shares of the semiconductor company’s stock, valued at approximately $1,999,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in SolarEdge Technologies in the second quarter valued at approximately $28,000. KBC Group NV increased its stake in shares of SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the period. First Pacific Financial raised its holdings in shares of SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the last quarter. US Bancorp DE boosted its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in SolarEdge Technologies during the 3rd quarter worth about $229,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. William Blair initiated coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen dropped their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group reduced their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.79.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $14.86 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The firm has a market cap of $861.14 million, a P/E ratio of -0.51 and a beta of 1.59. The firm’s 50 day moving average price is $17.08 and its 200-day moving average price is $26.67. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same period in the previous year, the firm earned ($1.03) EPS. The firm’s revenue for the quarter was down 64.0% compared to the same quarter last year. As a group, equities research analysts predict that SolarEdge Technologies, Inc. will post -19.05 EPS for the current year.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by corporate insiders.

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.