Renaissance Technologies LLC Reduces Stock Position in SolarEdge Technologies, Inc. $SEDG

Key Points

• Renaissance Technologies cut its SolarEdge Technologies stake by 34% in the first quarter, selling 246,000 shares and retaining 476,640 shares valued at approximately $24.3 million.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, 13 Hold, and six Sell ratings, and an average price target of $38.06.
• SolarEdge reported a quarterly loss of $0.43 per share, missing estimates, despite revenue of $309.9 million rising 41.5% year over year; analysts expect a full-year loss of approximately $1.10 per share.

Renaissance Technologies LLC lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 34.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,640 shares of the semiconductor company's stock after selling 246,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.78% of SolarEdge Technologies worth $24,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in SolarEdge Technologies during the 4th quarter worth $27,000. Rakuten Securities Inc. raised its stake in shares of SolarEdge Technologies by 82.1% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 432 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new position in shares of SolarEdge Technologies during the second quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new position in shares of SolarEdge Technologies during the fourth quarter worth about $36,000. 95.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SEDG has been the subject of several recent research reports. Barclays upped their target price on SolarEdge Technologies from $41.00 to $53.00 and gave the company an "equal weight" rating in a report on Friday, July 10th. Weiss Ratings raised SolarEdge Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 24th. Citigroup reduced their price target on shares of SolarEdge Technologies from $30.00 to $27.00 and set a "sell" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada cut their price objective on shares of SolarEdge Technologies from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 7th. Finally, Glj Research reissued a "sell" rating on shares of SolarEdge Technologies in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $38.06.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $39.04 on Thursday. SolarEdge Technologies, Inc. has a 52 week low of $23.01 and a 52 week high of $81.25. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The stock has a market cap of $2.37 billion, a PE ratio of -6.37 and a beta of 1.45. The company's 50-day moving average price is $57.27 and its two-hundred day moving average price is $46.48.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.20). SolarEdge Technologies had a negative net margin of 28.56% and a negative return on equity of 38.66%. The business had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.49 million. During the same quarter last year, the business posted ($1.14) EPS. The business's revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery sold 2,566 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $38.76, for a total value of $99,458.16. Following the transaction, the chairman owned 295,379 shares in the company, valued at approximately $11,448,890.04. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.04% of the company's stock.

SolarEdge Technologies Company Profile

SolarEdge Technologies NASDAQ: SEDG is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company's core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge's technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.