BI Asset Management Fondsmaeglerselskab A S Invests $467,000 in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,360 shares of the semiconductor company's stock, valued at approximately $467,000. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of SolarEdge Technologies as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in SolarEdge Technologies by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock valued at $16,227,000 after purchasing an additional 25,474 shares during the last quarter. Tidal Investments LLC raised its stake in SolarEdge Technologies by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company's stock valued at $1,463,000 after acquiring an additional 10,515 shares during the period. GAMMA Investing LLC boosted 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 worth $72,000 after purchasing an additional 4,567 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of SolarEdge Technologies by 592.3% during the 4th quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock worth $1,873,000 after buying an additional 117,841 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

SolarEdge Technologies Price Performance

Shares of SEDG traded down $0.61 during trading hours on Wednesday, reaching $12.23. The stock had a trading volume of 2,501,615 shares, compared to its average volume of 4,255,793. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $64.04. The stock has a market capitalization of $722.10 million, a PE ratio of -0.39 and a beta of 1.63. The company's 50-day moving average is $14.99 and its two-hundred day moving average is $14.80.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the firm's stock in a transaction 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 transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SEDG shares. Piper Sandler raised their price objective on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Susquehanna lowered their price objective on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup restated a "sell" rating and issued a $9.00 price target (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Morgan Stanley restated an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their price target for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $16.82.

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.