Headlands Technologies LLC Makes New Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Headlands Technologies LLC purchased a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,876 shares of the semiconductor company's stock, valued at approximately $257,000.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in SolarEdge Technologies during the fourth quarter worth $227,000. Assenagon Asset Management S.A. grew its holdings in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after buying an additional 564,490 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SolarEdge Technologies by 38.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after buying an additional 144,733 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $260,000. Finally, SG Americas Securities LLC boosted its position in SolarEdge Technologies by 592.3% during the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock worth $1,873,000 after acquiring an additional 117,841 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded down $3.06 on Thursday, reaching $11.29. 3,537,196 shares of the company were exchanged, compared to its average volume of 4,142,585. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $72.10. The firm has a market cap of $663.42 million, a price-to-earnings ratio of -0.36 and a beta of 1.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The company's 50-day moving average is $15.86 and its two-hundred day moving average is $15.60.

Remove Ads

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Canaccord Genuity Group increased their price target on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Glj Research raised shares of SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.80.

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.