Bayforest Capital Ltd Raises Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

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

Other hedge funds have also added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after acquiring an additional 641,915 shares in the last quarter. Invesco Ltd. grew its stake in SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after buying an additional 116,809 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies during the 4th quarter valued at about $17,909,000. Legal & General Group Plc boosted its holdings in SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after acquiring an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock valued at $17,060,000 after purchasing an additional 16,258 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded down $0.11 during trading hours on Friday, hitting $25.55. 3,471,160 shares of the company's stock traded hands, compared to its average volume of 4,638,907. The company has a market capitalization of $1.51 billion, a PE ratio of -0.85 and a beta of 1.56. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $32.45. The firm's 50-day moving average is $22.44 and its 200-day moving average is $17.78.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SEDG shares. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. BNP Paribas raised SolarEdge Technologies to a "strong sell" rating in a report on Wednesday, July 16th. Guggenheim reaffirmed a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. The Goldman Sachs Group reissued a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company cut their price objective on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Eleven investment analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.92.

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.