Two Sigma Advisers LP Grows Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Two Sigma Advisers LP boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,142,100 shares of the semiconductor company’s stock after purchasing an additional 3,400 shares during the period. Two Sigma Advisers LP’s holdings in SolarEdge Technologies were worth $26,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Yelin Lapidot Holdings Management Ltd. lifted its holdings in shares of SolarEdge Technologies by 5.1% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares during the period. Louisiana State Employees Retirement System increased its position in SolarEdge Technologies by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 700 shares during the last quarter. Bank Hapoalim BM increased its position in SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after acquiring an additional 812 shares during the last quarter. International Assets Investment Management LLC bought a new position in SolarEdge Technologies in the second quarter valued at about $28,000. Finally, The Manufacturers Life Insurance Company boosted its position in SolarEdge Technologies by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock worth $534,000 after purchasing an additional 1,175 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

SEDG has been the subject of a number of research reports. Truist Financial reduced their target price on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating for the company in a report on Friday, November 8th. UBS Group lowered their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Piper Sandler cut SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $9.00 in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Finally, Bank of America downgraded SolarEdge Technologies from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $21.00 to $14.00 in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.04.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $12.78 on Friday. The stock has a market cap of $740.60 million, a price-to-earnings ratio of -0.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The stock has a 50 day moving average price of $15.99 and a 200-day moving average price of $24.82. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data 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 firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company’s revenue was down 64.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.03) EPS. Equities analysts expect that SolarEdge Technologies, Inc. will post -19.18 EPS for the current year.

Insider Activity

In related news, Chairman More Avery purchased 156,000 shares of SolarEdge Technologies stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now owns 244,478 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.67% of the company’s stock.

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.