Tidal Investments LLC Acquires 18,442 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Tidal Investments LLC boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 28.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 82,304 shares of the semiconductor company's stock after buying an additional 18,442 shares during the period. Tidal Investments LLC owned approximately 0.14% of SolarEdge Technologies worth $1,119,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SEDG. Janney Montgomery Scott LLC bought a new stake in SolarEdge Technologies in the 4th quarter valued at approximately $227,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of 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 during the last quarter. Headlands Technologies LLC bought a new stake in SolarEdge Technologies during the fourth quarter worth about $257,000. Teza Capital Management LLC boosted its position in SolarEdge Technologies by 59.1% during the fourth quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company's stock valued at $681,000 after purchasing an additional 18,602 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in SolarEdge Technologies by 79.6% during the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after purchasing an additional 278,200 shares during the last quarter. Institutional investors own 95.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SEDG. Piper Sandler increased their price objective on 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 lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Thursday, February 20th. Barclays raised their target price on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Wednesday, April 16th. Glj Research upped their price objective on SolarEdge Technologies from $3.90 to $6.90 and gave the company a "sell" rating in a research note on Wednesday, May 21st. Finally, UBS Group cut their price objective on SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.56.

Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is owned by corporate insiders.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock traded down $0.25 on Thursday, reaching $16.67. 1,429,319 shares of the stock were exchanged, compared to its average volume of 4,566,499. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The firm has a market cap of $984.38 million, a PE ratio of -0.53 and a beta of 1.50. The firm's 50 day moving average is $15.29 and its 200-day moving average is $14.86. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $51.50.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm had revenue of $219.48 million during the quarter, compared to analysts' expectations of $205.39 million. During the same period in the prior year, the company earned ($1.90) earnings per share. The company's quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

SolarEdge Technologies 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.