Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 16.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,005 shares of the semiconductor company’s stock after buying an additional 20,545 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.25% of SolarEdge Technologies worth $10,363,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SEDG. Yelin Lapidot Holdings Management Ltd. boosted its holdings in SolarEdge Technologies by 0.6% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after buying an additional 130 shares during the period. Liberty One Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 4.2% in the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after buying an additional 148 shares during the last quarter. Strategic Advocates LLC lifted its holdings in shares of SolarEdge Technologies by 10.1% in the 4th quarter. Strategic Advocates LLC now owns 2,329 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 214 shares during the last quarter. Manchester Capital Management LLC raised its position in SolarEdge Technologies by 1,345.0% during the fourth quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. Finally, Green Alpha Advisors LLC raised its holdings in SolarEdge Technologies by 2.7% during the 1st quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock valued at $726,000 after buying an additional 270 shares during the period. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

SEDG stock traded up $2.61 during trading on Thursday, reaching $27.78. The company had a trading volume of 3,754,926 shares, compared to its average volume of 3,149,223. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -5.82 and a beta of 1.52. SolarEdge Technologies, Inc. has a twelve month low of $23.51 and a twelve month high of $253.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The firm has a 50-day simple moving average of $36.95 and a 200-day simple moving average of $56.89.

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). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. As a group, sell-side analysts expect that SolarEdge Technologies, Inc. will post -6.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SEDG shares. Northland Securities downgraded shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Canaccord Genuity Group cut their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, June 25th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, July 2nd. Citigroup reduced their target price 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. Finally, Piper Sandler upped their price target on shares of SolarEdge Technologies from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.58.

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.