Quest Partners LLC Sells 2,461 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quest Partners LLC decreased its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 21.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,159 shares of the semiconductor company’s stock after selling 2,461 shares during the period. Quest Partners LLC’s holdings in SolarEdge Technologies were worth $210,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in shares of SolarEdge Technologies in the second quarter valued at $28,000. KBC Group NV increased its stake in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares during the last quarter. First Pacific Financial increased its stake in SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 1,805 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares in the last quarter. Finally, GFG Capital LLC purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth about $229,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SEDG shares. Morgan Stanley restated an “underweight” rating and set a $9.00 target price (down from $23.00) on shares of SolarEdge Technologies in a report on Friday, November 15th. Bank of America lowered SolarEdge Technologies from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Scotiabank reduced their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Finally, UBS Group cut their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.79.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $14.86 on Thursday. The firm has a market capitalization of $861.14 million, a price-to-earnings ratio of -0.53 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The business has a fifty day moving average of $17.08 and a 200 day moving average of $26.67. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released 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 company had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s quarterly revenue was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.03) EPS. As a group, research analysts expect that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current year.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery bought 156,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the purchase, the chairman now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

About SolarEdge Technologies

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.