FORA Capital LLC Raises Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

FORA Capital LLC increased its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,590 shares of the semiconductor company's stock after acquiring an additional 25,353 shares during the period. FORA Capital LLC owned approximately 0.19% of SolarEdge Technologies worth $1,531,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Millstone Evans Group LLC bought a new position in shares of SolarEdge Technologies in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its holdings in SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after buying an additional 2,770 shares during the last quarter. R Squared Ltd purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth $61,000. Finally, GAMMA Investing LLC increased its stake in shares of SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 4,567 shares in the last quarter. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $0.68 during trading on Monday, hitting $19.16. 8,889,981 shares of the stock traded hands, compared to its average volume of 4,391,621. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -0.61 and a beta of 1.50. The company has a fifty day moving average price of $14.80 and a two-hundred day moving average price of $14.68. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $56.52.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.12. The company 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%. The firm's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.90) EPS. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Insider Activity

In other news, Chairman More Avery acquired 30,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at $3,760,348.60. This trade represents a 12.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Northland Capmk upgraded shares of SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group raised their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating 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 report on Wednesday, April 16th. Finally, Susquehanna cut their target price 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. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.32.

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.