71,700 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Purchased by MYDA Advisors LLC

MYDA Advisors LLC purchased a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 71,700 shares of the semiconductor company's stock, valued at approximately $975,000. MYDA Advisors LLC owned approximately 0.12% of SolarEdge Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp lifted its holdings in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd purchased a new position in shares of SolarEdge Technologies during the fourth quarter valued at $61,000. Finally, GAMMA Investing LLC raised its position in SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock valued at $72,000 after buying an additional 4,567 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery bought 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SEDG shares. Guggenheim restated a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday. Barclays upped their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 16th. Citigroup reissued a "sell" rating and set a $9.00 price objective (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. BMO Capital Markets downgraded SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their target price for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price target on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.92.

SolarEdge Technologies Stock Performance

SEDG stock traded down $0.20 during midday trading on Thursday, hitting $11.72. The stock had a trading volume of 4,002,742 shares, compared to its average volume of 4,223,923. The firm has a market capitalization of $691.98 million, a price-to-earnings ratio of -0.38 and a beta of 1.63. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $15.52 and a 200 day simple moving average of $15.03. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $64.04.

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.