Spire Wealth Management Has $65,000 Stock Holdings in SolarEdge Technologies, Inc. $SEDG

Spire Wealth Management raised its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 706.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,185 shares of the semiconductor company’s stock after buying an additional 2,790 shares during the period. Spire Wealth Management’s holdings in SolarEdge Technologies were worth $65,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC acquired a new stake in SolarEdge Technologies in the second quarter valued at approximately $204,000. Bayforest Capital Ltd boosted its position in SolarEdge Technologies by 49.8% in the second quarter. Bayforest Capital Ltd now owns 85,461 shares of the semiconductor company’s stock valued at $1,743,000 after buying an additional 28,425 shares in the last quarter. Phoenix Financial Ltd. acquired a new stake in SolarEdge Technologies in the second quarter valued at approximately $216,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in SolarEdge Technologies by 10,038.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company’s stock valued at $17,945,000 after buying an additional 1,098,284 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in SolarEdge Technologies in the first quarter valued at approximately $1,092,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 28.9%

SolarEdge Technologies stock opened at $41.02 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.72. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $41.92. The firm’s fifty day moving average is $35.74 and its 200 day moving average is $26.72. The company has a market capitalization of $2.44 billion, a PE ratio of -1.37 and a beta of 1.63.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.81). SolarEdge Technologies had a negative net margin of 177.64% and a negative return on equity of 191.53%. The company had revenue of $289.43 million for the quarter, compared to the consensus estimate of $270.03 million. During the same quarter in the previous year, the company earned ($1.79) EPS. SolarEdge Technologies’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SEDG shares. Wall Street Zen raised shares of SolarEdge Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $27.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Oppenheimer reissued a “market perform” rating on shares of SolarEdge Technologies in a report on Monday, August 11th. Roth Capital boosted their target price on shares of SolarEdge Technologies from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Finally, Barclays boosted their target price on shares of SolarEdge Technologies from $29.00 to $36.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Eighteen research analysts have rated the stock with a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $21.68.

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.