SIR Capital Management L.P. Purchases Shares of 188,900 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SIR Capital Management L.P. purchased a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 188,900 shares of the semiconductor company's stock, valued at approximately $2,569,000. SIR Capital Management L.P. owned 0.33% of SolarEdge Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sphera Funds Management LTD. purchased a new stake in SolarEdge Technologies in the fourth quarter valued at $5,100,000. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies in the fourth quarter valued at $17,909,000. ProShare Advisors LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SolarEdge Technologies by 156.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 612,392 shares of the semiconductor company's stock valued at $8,311,000 after purchasing an additional 373,577 shares during the period. Finally, Graham Capital Management L.P. increased its stake in shares of SolarEdge Technologies by 261.2% during the fourth quarter. Graham Capital Management L.P. now owns 101,946 shares of the semiconductor company's stock worth $1,386,000 after acquiring an additional 73,722 shares during the period. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded down $1.26 during trading hours on Monday, hitting $20.76. 6,184,606 shares of the company traded hands, compared to its average volume of 4,475,887. The firm's 50-day simple moving average is $15.16 and its two-hundred day simple moving average is $14.77. The firm has a market cap of $1.23 billion, a P/E ratio of -0.67 and a beta of 1.50. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $53.58.

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

Insiders Place Their Bets

In related news, Chairman More Avery purchased 30,000 shares of the firm's 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 completion of the acquisition, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of recent analyst reports. Guggenheim reiterated a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. UBS Group dropped 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, May 8th. Royal Bank of Canada boosted their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Jefferies Financial Group dropped their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Twelve research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.44.

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.