GAMMA Investing LLC Has $2.37 Million Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GAMMA Investing LLC increased its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2,680.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,380 shares of the semiconductor company’s stock after acquiring an additional 141,116 shares during the quarter. GAMMA Investing LLC owned about 0.25% of SolarEdge Technologies worth $2,368,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SEDG. PharVision Advisers LLC bought a new stake in SolarEdge Technologies in the 4th quarter valued at $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SolarEdge Technologies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company’s stock valued at $3,282,000 after acquiring an additional 15,549 shares during the period. Voloridge Investment Management LLC lifted its position in shares of SolarEdge Technologies by 1.4% during the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company’s stock worth $11,780,000 after buying an additional 11,926 shares during the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth $816,000. Finally, Two Sigma Advisers LP lifted its position in shares of SolarEdge Technologies by 1.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company’s stock worth $15,781,000 after buying an additional 18,300 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SEDG. Roth Mkm upped their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Barclays upped their price objective on SolarEdge Technologies from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Mizuho upped their price objective on SolarEdge Technologies from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, June 2nd. Finally, Northland Capmk upgraded SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

SolarEdge Technologies Stock Up 10.8%

SolarEdge Technologies stock opened at $23.30 on Friday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -0.75 and a beta of 1.59. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $43.14. The business’s 50-day moving average price is $16.09 and its 200 day moving average price is $15.44. 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 (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. SolarEdge Technologies’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned ($1.90) earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

SolarEdge Technologies 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.