Quantbot Technologies LP Has $1.90 Million Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quantbot Technologies LP reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 52.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,103 shares of the semiconductor company's stock after selling 90,712 shares during the period. Quantbot Technologies LP owned 0.14% of SolarEdge Technologies worth $1,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SEDG. Vanguard Group Inc. boosted its holdings in shares of SolarEdge Technologies by 2.8% during the 1st 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 bought a new stake in shares of SolarEdge Technologies during the second quarter worth approximately $36,627,000. Harel Insurance Investments & Financial Services Ltd. grew its position 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 valued at $25,531,000 after purchasing an additional 2,795 shares during the last quarter. M&G PLC increased its stake in shares of SolarEdge Technologies by 4.2% during the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock worth $21,452,000 after purchasing an additional 38,001 shares during the period. Finally, Meitav Investment House Ltd. lifted its holdings in SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company's stock worth $13,340,000 after purchasing an additional 51,065 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Glj Research reaffirmed a "sell" rating and issued a $3.90 price objective on shares of SolarEdge Technologies in a report on Friday. BMO Capital Markets lowered their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a "market perform" rating on the stock in a research report on Thursday, November 7th. Piper Sandler downgraded shares of SolarEdge Technologies from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $17.00 to $9.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $9.00 price target (down from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $22.04.

SolarEdge Technologies Trading Up 6.3 %

NASDAQ:SEDG traded up $0.94 during mid-day trading on Friday, hitting $15.80. 3,093,049 shares of the company's stock were exchanged, compared to its average volume of 3,635,925. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. 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 50 day simple moving average of $16.82 and a 200-day simple moving average of $26.51. The firm has a market capitalization of $915.61 million, a P/E ratio of -0.55 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business's revenue for the quarter was down 64.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.03) EPS. As a group, research analysts expect that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current year.

Insider Activity

In related news, Chairman More Avery acquired 156,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now directly owns 244,478 shares of the company's stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.