Schonfeld Strategic Advisors LLC Increases Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Schonfeld Strategic Advisors LLC increased its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 283.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,656 shares of the semiconductor company's stock after acquiring an additional 108,377 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.25% of SolarEdge Technologies worth $1,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SEDG. Ion Asset Management Ltd. acquired a new stake in SolarEdge Technologies during the fourth quarter worth about $12,005,000. Northern Trust Corp increased its position in shares of SolarEdge Technologies by 3.2% during the fourth quarter. Northern Trust Corp now owns 244,903 shares of the semiconductor company's stock valued at $3,331,000 after purchasing an additional 7,487 shares during the period. Aquatic Capital Management LLC raised its stake in shares of SolarEdge Technologies by 204.3% in the 4th quarter. Aquatic Capital Management LLC now owns 320,711 shares of the semiconductor company's stock valued at $4,362,000 after buying an additional 215,311 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in SolarEdge Technologies by 24.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 60,968 shares of the semiconductor company's stock valued at $842,000 after purchasing an additional 11,833 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in SolarEdge Technologies by 163.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,891 shares of the semiconductor company's stock worth $189,000 after acquiring an additional 8,618 shares in the last quarter. Institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded up $3.54 during midday trading on Thursday, reaching $18.31. The company had a trading volume of 9,920,475 shares, compared to its average volume of 4,364,114. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $56.52. The company's 50 day moving average price is $14.62 and its 200 day moving average price is $14.64. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.08 billion, a P/E ratio of -0.59 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million for 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 company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.90) earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of SolarEdge Technologies from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday. Susquehanna reduced their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Roth Mkm lifted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and an average target price of $16.32.

Insider Buying and Selling

In other news, Chairman More Avery bought 30,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is currently owned by company insiders.

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.