Seven Eight Capital LP Makes New $2.73 Million Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Seven Eight Capital LP bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 108,132 shares of the semiconductor company’s stock, valued at approximately $2,731,000. Seven Eight Capital LP owned 0.19% of SolarEdge Technologies as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP boosted its holdings in SolarEdge Technologies by 110.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock worth $3,685,000 after buying an additional 20,654 shares in the last quarter. Albion Financial Group UT lifted its stake in shares of SolarEdge Technologies by 32.2% in the 1st quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 955 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of SolarEdge Technologies by 3,750.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock worth $3,243,000 after acquiring an additional 45,000 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SolarEdge Technologies during the second quarter valued at approximately $679,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock worth $2,047,000 after buying an additional 378 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEDG has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their target price 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. Roth Mkm lowered their target price on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut 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. The Goldman Sachs Group decreased their price target on SolarEdge Technologies from $25.00 to $19.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $27.00 to $17.00 in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $51.23.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $22.52 on Wednesday. SolarEdge Technologies, Inc. has a 12 month low of $17.12 and a 12 month high of $141.70. The company’s fifty day simple moving average is $24.78 and its 200-day simple moving average is $43.49. The firm has a market cap of $1.29 billion, a PE ratio of -4.80 and a beta of 1.56. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. During the same quarter in the prior year, the business earned $2.06 EPS. The business’s revenue was down 73.2% compared to the same quarter last year. Equities research analysts expect that SolarEdge Technologies, Inc. will post -8.67 EPS for the current fiscal year.

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.