GFG Capital LLC Takes Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GFG Capital LLC acquired a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the semiconductor company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 90.0% during the 1st quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in SolarEdge Technologies during the 1st quarter worth approximately $64,000. Hexagon Capital Partners LLC increased its position in SolarEdge Technologies by 120.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 610 shares in the last quarter. Finally, First Pacific Financial increased its position in SolarEdge Technologies by 53.0% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SEDG. Truist Financial reissued a “hold” rating and set a $20.00 target price on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. BMO Capital Markets reduced their target price on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Canaccord Genuity Group reduced their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Barclays reduced their target price on SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, October 11th. Finally, Canaccord Genuity Group reduced their target price on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $34.44.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $17.01 on Tuesday. The firm has a market capitalization of $974.67 million, a price-to-earnings ratio of -1.89 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. SolarEdge Technologies, Inc. has a one year low of $16.45 and a one year high of $103.15. The stock’s fifty day moving average is $21.73 and its 200-day moving average is $35.42.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same period last year, the business posted $2.06 earnings per share. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -8.75 EPS for the current year.

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.