Sphera Funds Management LTD. Takes Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Sphera Funds Management LTD. acquired a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 375,000 shares of the semiconductor company's stock, valued at approximately $5,100,000. Sphera Funds Management LTD. owned 0.65% of SolarEdge Technologies at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $227,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $257,000. Assenagon Asset Management S.A. lifted its position in SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in SolarEdge Technologies by 79.6% in the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after acquiring an additional 278,200 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company dropped their target price on 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. Morgan Stanley restated an "underweight" rating and set a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Northland Securities downgraded shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.50 price objective on the stock. in a report on Friday, May 16th. Northland Capmk downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research report on Friday, May 16th. Finally, Royal Bank of Canada raised their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Twelve investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $16.44.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock traded down $0.97 during midday trading on Wednesday, reaching $19.68. The company had a trading volume of 1,984,041 shares, compared to its average volume of 4,477,640. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $53.58. The company has a market capitalization of $1.16 billion, a P/E ratio of -0.63 and a beta of 1.50. The firm's fifty day simple moving average is $15.27 and its 200-day simple moving average is $14.81.

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, beating 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 business had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same quarter last year, the business posted ($1.90) earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

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.