Sphera Funds Management LTD. Buys Shares of 375,000 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Sphera Funds Management LTD. bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 375,000 shares of the semiconductor company’s stock, valued at approximately $5,100,000.

Several other institutional investors have also recently bought and sold shares of SEDG. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp lifted its stake in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares in the last quarter. R Squared Ltd bought a new stake in SolarEdge Technologies in the 4th quarter valued at approximately $61,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $133,000. Institutional investors own 95.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEDG. Morgan Stanley reiterated an “underweight” rating and set a $10.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Guggenheim reiterated a “sell” rating and set a $5.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Susquehanna dropped their price objective on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group dropped their price objective on SolarEdge Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.32.

SolarEdge Technologies Stock Performance

Shares of NASDAQ SEDG opened at $20.84 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock’s fifty day moving average price is $14.94 and its two-hundred day moving average price is $14.74. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $53.58. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -0.67 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same period in the prior year, the firm posted ($1.90) EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now directly owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.

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.