Tidal Investments LLC Acquires 41,116 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Tidal Investments LLC increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 251.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,496 shares of the semiconductor company’s stock after acquiring an additional 41,116 shares during the period. Tidal Investments LLC owned about 0.10% of SolarEdge Technologies worth $4,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brevan Howard Capital Management LP increased its position in shares of SolarEdge Technologies by 110.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after acquiring an additional 20,654 shares during the period. Albion Financial Group UT increased its stake in shares of SolarEdge Technologies by 32.2% during the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 955 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after purchasing an additional 103,293 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of SolarEdge Technologies by 371.3% in the 4th quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after buying an additional 227,634 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in SolarEdge Technologies by 129.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock valued at $19,264,000 after buying an additional 116,176 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Down 3.2 %

Shares of NASDAQ:SEDG traded down $0.86 on Friday, hitting $25.68. 481,001 shares of the company’s stock were exchanged, compared to its average volume of 3,124,224. The business’s 50 day simple moving average is $34.72 and its two-hundred day simple moving average is $55.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -5.71 and a beta of 1.52. SolarEdge Technologies, Inc. has a 12 month low of $23.51 and a 12 month high of $202.47.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. Analysts anticipate that SolarEdge Technologies, Inc. will post -6.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEDG. Northland Capmk lowered SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Piper Sandler upped their target price on shares of SolarEdge Technologies from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Bank of America increased their price target on shares of SolarEdge Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, The Goldman Sachs Group cut their target price on SolarEdge Technologies from $49.00 to $25.00 and set a “sell” rating on the stock in a research note on Thursday, June 27th. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.58.

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.