Deutsche Bank AG Increases Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Deutsche Bank AG boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,968 shares of the semiconductor company’s stock after acquiring an additional 5,363 shares during the quarter. Deutsche Bank AG owned 0.26% of SolarEdge Technologies worth $2,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEDG. Ion Asset Management Ltd. purchased a new position in SolarEdge Technologies in the 4th quarter valued at about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after acquiring an additional 641,915 shares during the period. Legal & General Group Plc increased its position in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after purchasing an additional 512,035 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of SolarEdge Technologies by 79.6% in the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company’s stock valued at $8,537,000 after acquiring an additional 278,200 shares during the period. Finally, Aquatic Capital Management LLC lifted its stake in SolarEdge Technologies by 204.3% during the fourth quarter. Aquatic Capital Management LLC now owns 320,711 shares of the semiconductor company’s stock worth $4,362,000 after purchasing an additional 215,311 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Up 11.8%

NASDAQ:SEDG opened at $16.70 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $51.50. The stock’s 50 day moving average price is $15.30 and its 200 day moving average price is $14.81. The company has a market capitalization of $986.03 million, a PE ratio of -0.54 and a beta of 1.50.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (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 business had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter in the previous year, the company posted ($1.90) earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SEDG. Guggenheim restated a “sell” rating and issued a $5.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group upped their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a research report on Wednesday, May 7th. Royal Bank of Canada increased their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Roth Mkm boosted their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Twelve analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.56.

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.