Ameriprise Financial Inc. Has $2.19 Million Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Ameriprise Financial Inc. cut its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,882 shares of the semiconductor company's stock after selling 15,593 shares during the quarter. Ameriprise Financial Inc. owned about 0.28% of SolarEdge Technologies worth $2,188,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp lifted its position in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted its position in SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after purchasing an additional 2,770 shares during the period. R Squared Ltd bought a new stake in SolarEdge Technologies during the fourth quarter worth about $61,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth $133,000. 95.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group dropped their price objective on SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a research report on Friday, May 23rd. BMO Capital Markets downgraded SolarEdge Technologies from a "market perform" rating to an "underperform" rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Piper Sandler upped their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of "Hold" and an average price target of $16.84.

SolarEdge Technologies Trading Down 4.8%

Shares of SEDG traded down $0.87 during mid-day trading on Monday, reaching $17.00. 1,725,226 shares of the company were exchanged, compared to its average volume of 4,590,924. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $50.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The stock has a market capitalization of $1.00 billion, a PE ratio of -0.55 and a beta of 1.50. The business has a 50 day simple moving average of $15.29 and a two-hundred day simple moving average of $14.96.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.90) EPS. On average, analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired 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 owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is currently owned by corporate insiders.

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.