SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stake Lessened by Hartline Investment Corp

Hartline Investment Corp reduced its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,905 shares of the semiconductor company’s stock after selling 7,255 shares during the quarter. Hartline Investment Corp’s holdings in SolarEdge Technologies were worth $1,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of SolarEdge Technologies by 94.0% during the third quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 314 shares during the period. SG Americas Securities LLC boosted its stake in SolarEdge Technologies by 40.2% in the third quarter. SG Americas Securities LLC now owns 14,446 shares of the semiconductor company’s stock valued at $1,871,000 after acquiring an additional 4,143 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of SolarEdge Technologies by 46.1% in the third quarter. Flagship Harbor Advisors LLC now owns 3,529 shares of the semiconductor company’s stock valued at $457,000 after purchasing an additional 1,114 shares during the period. Czech National Bank increased its holdings in SolarEdge Technologies by 48.2% during the 3rd quarter. Czech National Bank now owns 9,885 shares of the semiconductor company’s stock worth $1,280,000 after acquiring an additional 3,215 shares during the period. Finally, Slow Capital Inc. increased its holdings in shares of SolarEdge Technologies by 10.6% in the 3rd quarter. Slow Capital Inc. now owns 29,785 shares of the semiconductor company’s stock worth $3,857,000 after buying an additional 2,858 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Truist Financial reduced their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Susquehanna cut their price objective on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Wells Fargo & Company lowered their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Canaccord Genuity Group started coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price objective on the stock. Finally, Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average price target of $98.38.

SolarEdge Technologies Stock Up 1.9 %

NASDAQ SEDG traded up $1.09 during midday trading on Wednesday, hitting $57.86. 2,703,840 shares of the company traded hands, compared to its average volume of 2,411,592. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $317.93. The company’s 50-day simple moving average is $68.43 and its 200-day simple moving average is $78.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market cap of $3.31 billion, a PE ratio of 128.89 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities research analysts forecast that SolarEdge Technologies, Inc. will post -4.14 earnings per share for the current year.

Insider Activity

In related news, Director More Avery purchased 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.17% 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.