SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by Bayforest Capital Ltd

Bayforest Capital Ltd grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 367.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,036 shares of the semiconductor company's stock after buying an additional 44,831 shares during the period. Bayforest Capital Ltd owned 0.10% of SolarEdge Technologies worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SEDG. KLP Kapitalforvaltning AS bought a new stake in SolarEdge Technologies in the fourth quarter worth $146,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SolarEdge Technologies by 279.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,467 shares of the semiconductor company's stock worth $918,000 after acquiring an additional 49,708 shares in the last quarter. Headlands Technologies LLC bought a new position in SolarEdge Technologies during the 4th quarter worth about $257,000. Geode Capital Management LLC grew its holdings in SolarEdge Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 728,259 shares of the semiconductor company's stock worth $9,909,000 after acquiring an additional 20,215 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of SolarEdge Technologies during the fourth quarter valued at about $133,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded down $0.11 during trading hours on Friday, hitting $25.55. 3,471,160 shares of the company were exchanged, compared to its average volume of 4,860,841. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $32.45. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $22.26 and a 200-day moving average of $17.70. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -0.85 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The business had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. During the same quarter in the prior year, the business earned ($1.90) earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts expect that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Susquehanna increased their price objective on shares of SolarEdge Technologies from $14.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Guggenheim reaffirmed a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Barclays raised shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $12.00 to $29.00 in a research note on Monday, July 14th. Jefferies Financial Group raised their price objective on SolarEdge Technologies from $10.00 to $18.00 and gave the company an "underperform" rating in a report on Monday, July 14th. Finally, Glj Research lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price objective on the stock. in a report on Tuesday, June 17th. Eleven investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company. According to MarketBeat.com, SolarEdge Technologies has an average rating of "Hold" and a consensus price target of $17.92.

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.