AMG National Trust Bank Makes New $4.06 Million Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

AMG National Trust Bank acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 177,000 shares of the semiconductor company’s stock, valued at approximately $4,055,000. AMG National Trust Bank owned approximately 0.31% of SolarEdge Technologies as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of SolarEdge Technologies in the 1st quarter valued at approximately $64,000. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth $28,000. KBC Group NV raised its position in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of SolarEdge Technologies in the 1st quarter valued at $236,000. Finally, First Pacific Financial grew its holdings in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 17.1 %

NASDAQ:SEDG opened at $10.64 on Monday. SolarEdge Technologies, Inc. has a 52-week low of $10.55 and a 52-week high of $103.15. The company has a market capitalization of $616.59 million, a PE ratio of -0.37 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $18.19 and a 200-day simple moving average of $28.90.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter last year, the company posted ($1.03) earnings per share. SolarEdge Technologies’s revenue for the quarter was down 64.0% on a year-over-year basis. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post -17.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, November 7th. Barclays cut their price target on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a report on Friday. Royal Bank of Canada decreased their price objective on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Scotiabank cut their target price on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Ten analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.79.

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.