SG Americas Securities LLC Has $2.59 Million Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SG Americas Securities LLC lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 16.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,189 shares of the semiconductor company's stock after purchasing an additional 22,453 shares during the period. SG Americas Securities LLC owned 0.27% of SolarEdge Technologies worth $2,592,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies in the fourth quarter worth $17,909,000. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies in the 4th quarter worth $12,005,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares during the period. Legal & General Group Plc raised its position in shares of SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after buying an additional 512,035 shares during the last quarter. Finally, Sphera Funds Management LTD. bought a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $5,100,000. Institutional investors and hedge funds own 95.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SEDG. Jefferies Financial Group cut their price target on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a report on Tuesday, April 15th. Mizuho raised their target price on SolarEdge Technologies from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd. Piper Sandler boosted their price target on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. BMO Capital Markets cut shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and increased their price objective for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Finally, Northland Capmk upgraded shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $17.00.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG traded up $0.68 during trading on Monday, reaching $23.98. The company had a trading volume of 6,681,415 shares, compared to its average volume of 4,671,122. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $40.47. The business's 50 day moving average price is $16.09 and its 200-day moving average price is $15.45. The stock has a market cap of $1.42 billion, a PE ratio of -0.77 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. SolarEdge Technologies's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted ($1.90) earnings per share. Analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

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.