Aristides Capital LLC Acquires New Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Aristides Capital LLC bought a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,400 shares of the semiconductor company’s stock, valued at approximately $223,000.

Other hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies in the 4th quarter worth about $27,000. Jones Financial Companies Lllp grew its stake in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,954 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. R Squared Ltd bought a new position in SolarEdge Technologies during the fourth quarter valued at approximately $61,000. Finally, GAMMA Investing LLC boosted its holdings in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. The trade was a 12.27 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.67% of the company’s stock.

SolarEdge Technologies Stock Down 4.7 %

Shares of SEDG stock opened at $14.71 on Monday. The company’s fifty day simple moving average is $15.86 and its two-hundred day simple moving average is $15.79. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $72.12. The stock has a market cap of $864.70 million, a P/E ratio of -0.47 and a beta of 1.63. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEDG. The Goldman Sachs Group increased their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Northland Capmk downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Susquehanna raised their target price on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Barclays upped their price target on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group raised their price objective on shares of SolarEdge Technologies from $9.00 to $12.00 and gave the stock an “underperform” rating in a report on Friday, February 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $21.80.

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.