Entropy Technologies LP Invests $594,000 in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Key Points

• Entropy Technologies LP has acquired a new position in SolarEdge Technologies, purchasing 36,716 shares valued at approximately $594,000.
• Institutional ownership of SolarEdge Technologies is significant, with 95.10% of the company's stock held by institutional investors, reflecting strong interest in the firm.
• SolarEdge Technologies reported a quarterly revenue of $289.43 million, exceeding expectations, though it also recorded a negative net margin of 177.64%.

Entropy Technologies LP bought a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 36,716 shares of the semiconductor company's stock, valued at approximately $594,000. Entropy Technologies LP owned approximately 0.06% of SolarEdge Technologies at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 790 shares during the period. Banque Cantonale Vaudoise purchased a new stake in SolarEdge Technologies during the first quarter valued at approximately $35,000. US Bancorp DE raised its holdings in shares of SolarEdge Technologies by 25.2% in the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after buying an additional 918 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of SolarEdge Technologies by 32.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,851 shares of the semiconductor company's stock worth $127,000 after acquiring an additional 1,921 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of SolarEdge Technologies in the fourth quarter worth $145,000. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded down $0.79 during trading on Thursday, hitting $25.67. 3,131,892 shares of the stock were exchanged, compared to its average volume of 4,541,946. The stock's fifty day moving average is $23.91 and its 200 day moving average is $18.49. The stock has a market cap of $1.52 billion, a PE ratio of -0.86 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.94. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $32.45.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) EPS for the quarter, hitting the consensus estimate of ($0.81). The business had revenue of $289.43 million during the quarter, compared to analyst estimates of $270.03 million. SolarEdge Technologies had a negative net margin of 177.64% and a negative return on equity of 191.53%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.79) earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Analyst Ratings Changes

SEDG has been the topic of several research analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Glj Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 target price on the stock. in a research note on Tuesday, June 17th. Susquehanna lifted their price objective on shares of SolarEdge Technologies from $14.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of SolarEdge Technologies from $15.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating and nineteen have given a hold rating to the stock. According to MarketBeat, SolarEdge Technologies presently has an average rating of "Hold" and an average target price of $17.70.

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.