Russell Investments Group Ltd. lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 67.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,533 shares of the semiconductor company's stock after selling 314,121 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of SolarEdge Technologies worth $2,047,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies during the 4th quarter valued at $27,000. Jones Financial Companies Lllp increased 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 worth $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 2,770 shares during the last quarter. R Squared Ltd purchased a new stake in SolarEdge Technologies during the 4th quarter valued at about $61,000. Finally, GAMMA Investing LLC increased its stake in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 4,567 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.
Insider Activity
In other news, Chairman More Avery acquired 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.67% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on SEDG shares. Canaccord Genuity Group increased their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Morgan Stanley upgraded SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $11.00 to $18.00 in a report on Thursday, February 20th. Royal Bank of Canada increased their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. BMO Capital Markets cut 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, Jefferies Financial Group dropped their price target on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research note on Tuesday, April 15th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.53.
Check Out Our Latest Report on SEDG
SolarEdge Technologies Trading Down 4.3 %
Shares of SolarEdge Technologies stock traded down $0.54 on Monday, reaching $12.10. The company had a trading volume of 1,897,377 shares, compared to its average volume of 4,200,936. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm's 50-day moving average price is $15.65 and its two-hundred day moving average price is $15.06. The firm has a market cap of $714.42 million, a price-to-earnings ratio of -0.39 and a beta of 1.63. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $64.04.
About SolarEdge Technologies
(
Free Report)
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.
Further Reading
Before you consider SolarEdge Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SolarEdge Technologies wasn't on the list.
While SolarEdge Technologies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
