Voleon Capital Management LP Purchases New Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Voleon Capital Management LP purchased a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 64,779 shares of the semiconductor company's stock, valued at approximately $881,000. Voleon Capital Management LP owned approximately 0.11% of SolarEdge Technologies as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in SolarEdge Technologies in the fourth quarter valued at about $27,000. Jones Financial Companies Lllp boosted its stake in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 1,954 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock worth $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth approximately $61,000. Finally, GAMMA Investing LLC raised its stake in shares of SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company's stock worth $72,000 after buying an additional 4,567 shares during the last quarter. Institutional investors own 95.10% of the company's stock.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.67% of the company's stock.

SolarEdge Technologies Stock Up 2.5 %

Shares of SolarEdge Technologies stock opened at $12.54 on Friday. The firm has a market cap of $740.40 million, a PE ratio of -0.40 and a beta of 1.63. The business's 50 day simple moving average is $14.87 and its 200 day simple moving average is $14.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $64.04.

Analyst Ratings Changes

A number of research firms have commented on SEDG. BMO Capital Markets lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and lifted their target price for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. UBS Group lifted their price objective on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Morgan Stanley restated an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price target on SolarEdge Technologies from $14.00 to $15.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $16.82.

About SolarEdge Technologies

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.

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