87,237 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Purchased by FORA Capital LLC

FORA Capital LLC acquired a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 87,237 shares of the semiconductor company's stock, valued at approximately $1,999,000. FORA Capital LLC owned 0.15% of SolarEdge Technologies at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. lifted its position in SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company's stock worth $294,000 after purchasing an additional 564 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of SolarEdge Technologies by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company's stock valued at $727,000 after acquiring an additional 700 shares in the last quarter. Bank Hapoalim BM boosted its position in shares of SolarEdge Technologies by 2.5% during the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company's stock valued at $769,000 after acquiring an additional 812 shares in the last quarter. California State Teachers Retirement System increased its stake in SolarEdge Technologies by 1.6% in the first quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company's stock valued at $3,672,000 after acquiring an additional 827 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in SolarEdge Technologies in the second quarter worth about $28,000. Institutional investors and hedge funds own 95.10% of the company's stock.

Analysts Set New Price Targets

SEDG has been the topic of several analyst reports. Mizuho lowered SolarEdge Technologies from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $35.00 to $11.00 in a research note on Thursday, November 7th. Canaccord Genuity Group dropped their price objective 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. Bank of America downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $21.00 to $14.00 in a research note on Thursday, November 7th. Scotiabank dropped 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 research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price target on shares of SolarEdge Technologies from $35.00 to $25.00 and set a "sector perform" rating for the company in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.79.

SolarEdge Technologies Stock Performance

SEDG stock traded up $1.17 during trading hours on Thursday, reaching $14.86. The stock had a trading volume of 7,972,863 shares, compared to its average volume of 3,638,266. The stock has a market capitalization of $861.14 million, a PE ratio of -0.51 and a beta of 1.59. The stock has a 50-day simple moving average of $16.95 and a 200 day simple moving average of $26.59. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $103.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data 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 net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same quarter in the prior year, the company earned ($1.03) EPS. SolarEdge Technologies's quarterly revenue was down 64.0% on a year-over-year basis. Analysts predict that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now directly owns 244,478 shares of the company's stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company's stock.

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.