Quadrature Capital Ltd Reduces Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quadrature Capital Ltd cut its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 61.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,187 shares of the semiconductor company's stock after selling 110,581 shares during the quarter. Quadrature Capital Ltd owned approximately 0.12% of SolarEdge Technologies worth $1,608,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Erste Asset Management GmbH bought a new stake in shares of SolarEdge Technologies during the third quarter valued at approximately $4,420,000. Firsthand Capital Management Inc. increased its holdings in SolarEdge Technologies by 184.8% in the 3rd quarter. Firsthand Capital Management Inc. now owns 13,000 shares of the semiconductor company's stock valued at $298,000 after acquiring an additional 8,435 shares during the last quarter. Point72 Europe London LLP purchased a new stake in SolarEdge Technologies in the 3rd quarter worth $1,832,000. FORA Capital LLC purchased a new stake in SolarEdge Technologies in the 3rd quarter worth $1,999,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of SolarEdge Technologies by 2.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 186,738 shares of the semiconductor company's stock valued at $4,278,000 after purchasing an additional 5,238 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 156,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares of the company's stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Stock Up 1.5 %

NASDAQ SEDG traded up $0.19 on Friday, reaching $12.78. 3,420,233 shares of the stock traded hands, compared to its average volume of 6,262,159. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $103.15. The company has a market cap of $740.60 million, a price-to-earnings ratio of -0.44 and a beta of 1.56. The company has a fifty day moving average price of $15.99 and a 200-day moving average price of $24.99. 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 released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts' consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to analysts' expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The firm's revenue was down 64.0% compared to the same quarter last year. During the same period last year, the company earned ($1.03) earnings per share. As a group, research analysts forecast that SolarEdge Technologies, Inc. will post -19.18 EPS for the current fiscal year.

Analyst Ratings Changes

SEDG has been the topic of several research reports. UBS Group reduced their target price on SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. The Goldman Sachs Group decreased their price objective on SolarEdge Technologies from $19.00 to $10.00 and set a "sell" rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley restated an "underweight" rating and issued a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Finally, Guggenheim upgraded shares of SolarEdge Technologies from a "sell" rating to a "neutral" rating in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus price target of $22.04.

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.