AMG National Trust Bank Invests $4.06 Million in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

AMG National Trust Bank acquired a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 177,000 shares of the semiconductor company's stock, valued at approximately $4,055,000. AMG National Trust Bank owned 0.31% of SolarEdge Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB bought a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $261,312,000. Vanguard Group Inc. boosted its holdings in shares of SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company's stock worth $166,618,000 after buying an additional 62,942 shares during the period. Quarry LP acquired a new position in shares of SolarEdge Technologies in the second quarter worth about $36,627,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company's stock worth $25,531,000 after buying an additional 2,795 shares during the period. Finally, M&G PLC boosted its holdings in shares of SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock worth $21,452,000 after buying an additional 38,001 shares during the period. Institutional investors own 95.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SEDG shares. Scotiabank decreased their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. Mizuho cut shares of SolarEdge Technologies from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $35.00 to $11.00 in a report on Thursday, November 7th. Barclays decreased their target price on shares of SolarEdge Technologies from $17.00 to $7.00 and set an "underperform" rating for the company in a report on Friday. Canaccord Genuity Group decreased their target price on shares of SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, August 8th. Finally, 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. Ten investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.79.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded up $0.21 on Monday, reaching $10.85. The stock had a trading volume of 4,663,980 shares, compared to its average volume of 3,580,415. SolarEdge Technologies, Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $103.15. The business's 50-day moving average price is $18.05 and its two-hundred day moving average price is $28.56. The stock has a market cap of $628.76 million, a P/E ratio of -0.37 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) 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 return on equity of 65.79% and a negative net margin of 158.19%. The company 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 posted ($1.03) EPS. The company's revenue was down 64.0% compared to the same quarter last year. On average, sell-side analysts forecast that SolarEdge Technologies, Inc. will post -17.69 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly 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 filing with the SEC, which is accessible through this link. Insiders own 0.67% of the company's stock.

About SolarEdge Technologies

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.