Quantbot Technologies LP Lowers Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quantbot Technologies LP cut its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,103 shares of the semiconductor company’s stock after selling 90,712 shares during the quarter. Quantbot Technologies LP owned approximately 0.14% of SolarEdge Technologies worth $1,904,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in SolarEdge Technologies by 86.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,307 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 7,099 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SolarEdge Technologies by 683.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock worth $5,786,000 after purchasing an additional 220,304 shares during the last quarter. AMG National Trust Bank purchased a new stake in shares of SolarEdge Technologies in the third quarter worth about $4,055,000. Mizuho Markets Americas LLC boosted its stake in SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the last quarter. Finally, KBC Group NV grew its holdings in SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 1,378 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SEDG has been the subject of several research reports. 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 report on Thursday, August 8th. Barclays reduced their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. Piper Sandler cut SolarEdge Technologies from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Finally, William Blair started coverage on shares of SolarEdge Technologies in a research note on Thursday, August 29th. They set a “market perform” rating for the company. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and a consensus price target of $22.79.

SolarEdge Technologies Stock Performance

SEDG stock opened at $14.86 on Friday. The firm has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $26.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $103.15. The firm has a market cap of $861.14 million, a price-to-earnings ratio of -0.51 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. SolarEdge Technologies’s revenue was down 64.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.03) earnings per share. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery purchased 156,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This trade represents a 176.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by company insiders.

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.