Harel Insurance Investments & Financial Services Ltd. Sells 205,250 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Harel Insurance Investments & Financial Services Ltd. decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 806,510 shares of the semiconductor company's stock after selling 205,250 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 1.37% of SolarEdge Technologies worth $13,049,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies during the 4th quarter worth about $17,909,000. Ion Asset Management Ltd. bought a new stake in shares of SolarEdge Technologies during the 4th quarter valued at about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in SolarEdge Technologies by 14.9% during the fourth 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 grew its stake in 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 worth $17,262,000 after purchasing an additional 512,035 shares during the period. Finally, Sphera Funds Management LTD. bought a new stake in SolarEdge Technologies in the fourth quarter worth approximately $5,100,000. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Up 16.3%

SolarEdge Technologies stock traded up $3.85 during midday trading on Friday, hitting $27.45. 9,478,849 shares of the stock were exchanged, compared to its average volume of 4,772,055. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $32.11. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $18.07 and its 200-day moving average price is $16.00. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -0.91 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SEDG shares. Jefferies Financial Group cut their price target on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a report on Tuesday, April 15th. Northland Securities upgraded shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price target for the company in a report on Friday, May 23rd. Canaccord Genuity Group upped their price objective on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Susquehanna cut their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Glj Research lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 target price for the company. in a research report on Tuesday, June 17th. Twelve equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.12.

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.