Geo Capital Gestora de Recursos Ltd Lowers Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Geo Capital Gestora de Recursos Ltd trimmed its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 75.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,340 shares of the semiconductor company’s stock after selling 19,823 shares during the quarter. SolarEdge Technologies accounts for 0.7% of Geo Capital Gestora de Recursos Ltd’s holdings, making the stock its 24th largest holding. Geo Capital Gestora de Recursos Ltd’s holdings in SolarEdge Technologies were worth $593,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SEDG. Vanguard Group Inc. raised its position in shares of SolarEdge Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of SolarEdge Technologies by 10.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after acquiring an additional 89,279 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in SolarEdge Technologies by 1.6% during the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after buying an additional 14,878 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Down 7.9 %

SolarEdge Technologies stock traded down $3.41 during midday trading on Friday, reaching $39.86. The company’s stock had a trading volume of 3,082,701 shares, compared to its average volume of 1,900,671. The business has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $68.61. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. SolarEdge Technologies, Inc. has a fifty-two week low of $39.84 and a fifty-two week high of $288.87. The company has a market cap of $2.28 billion, a P/E ratio of -8.57 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. On average, research analysts expect that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SEDG shares. Bank of America reduced their target price on SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating on the stock in a research report on Friday, May 10th. Piper Sandler reduced their target price on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Susquehanna downgraded SolarEdge Technologies from a “positive” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $56.00 in a research note on Monday, May 13th. Truist Financial dropped their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. Finally, Citigroup dropped their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Four analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.38.

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.