Quadrature Capital Ltd Sells 110,581 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quadrature Capital Ltd cut its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 61.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,187 shares of the semiconductor company’s stock after selling 110,581 shares during the period. Quadrature Capital Ltd’s holdings in SolarEdge Technologies were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $28,000. KBC Group NV raised 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 worth $65,000 after buying an additional 1,378 shares during the period. First Pacific Financial lifted its stake in SolarEdge Technologies by 53.0% in the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 1,805 shares in the last quarter. US Bancorp DE boosted its holdings in shares of SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,834 shares during the period. Finally, GFG Capital LLC bought a new position in SolarEdge Technologies during the 3rd quarter worth about $229,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $12.78 on Friday. The business’s 50-day moving average price is $15.99 and its 200-day moving average price is $24.99. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $103.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue was down 64.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.03) earnings per share. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery bought 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, the chairman now directly owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SEDG. TD Cowen decreased their price target on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. UBS Group lowered their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Roth Mkm dropped their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada cut their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Finally, Piper Sandler cut shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $17.00 to $9.00 in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.04.

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.