10,000 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Purchased by GFG Capital LLC

GFG Capital LLC acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the semiconductor company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock worth $43,000 after buying an additional 289 shares during the period. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies during the first quarter worth about $64,000. International Assets Investment Management LLC purchased a new position in SolarEdge Technologies during the second quarter worth about $28,000. Hexagon Capital Partners LLC boosted its stake in SolarEdge Technologies by 120.8% during the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after buying an additional 610 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new position in SolarEdge Technologies during the first quarter worth about $236,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $17.01 on Tuesday. The firm has a market capitalization of $974.67 million, a P/E ratio of -1.89 and a beta of 1.56. SolarEdge Technologies, Inc. has a one year low of $16.45 and a one year high of $103.15. The company’s fifty day moving average is $21.73 and its two-hundred day moving average is $35.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The company had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 earnings per share. Analysts forecast that SolarEdge Technologies, Inc. will post -8.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SEDG. Canaccord Genuity Group lowered their target price on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. TD Cowen reissued a “hold” rating and issued a $16.00 price objective (down previously from $35.00) on shares of SolarEdge Technologies in a research note on Monday. Canaccord Genuity Group lowered their price objective 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. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. Finally, Bank of America decreased their price target on shares of SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Seven analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $34.44.

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.