Algert Global LLC decreased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 49.4% during the 2nd quarter, Holdings Channel reports. The firm owned 57,120 shares of the semiconductor company’s stock after selling 55,690 shares during the quarter. Algert Global LLC’s holdings in SolarEdge Technologies were worth $3,338,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in SolarEdge Technologies by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,677 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 300 shares during the last quarter. State of Wyoming lifted its holdings in SolarEdge Technologies by 32.9% in the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 306 shares during the last quarter. Tidal Investments LLC grew its position in SolarEdge Technologies by 1.2% in the second quarter. Tidal Investments LLC now owns 42,411 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 484 shares during the period. Allworth Financial LP acquired a new stake in SolarEdge Technologies during the second quarter worth $31,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of SolarEdge Technologies by 28.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 553 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SEDG has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a research report on Thursday, August 6th. Citigroup reduced their target price on SolarEdge Technologies from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Thursday, May 7th. Glj Research reaffirmed a “sell” rating on shares of SolarEdge Technologies in a research report on Thursday, June 11th. Weiss Ratings upgraded SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Wells Fargo & Company initiated coverage on SolarEdge Technologies in a research note on Monday, June 29th. They set an “equal weight” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $38.36.
SolarEdge Technologies Stock Down 6.3%
NASDAQ:SEDG opened at $31.41 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $43.70 and a 200-day moving average of $46.44. The firm has a market capitalization of $1.93 billion, a PE ratio of -6.98 and a beta of 1.49. SolarEdge Technologies, Inc. has a 52 week low of $28.21 and a 52 week high of $81.25.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%.The firm had revenue of $346.20 million during the quarter, compared to the consensus estimate of $341.15 million. During the same period in the prior year, the business earned ($0.81) EPS. The firm’s revenue was up 19.6% on a year-over-year basis. Analysts predict that SolarEdge Technologies, Inc. will post -1.23 EPS for the current year.
SolarEdge Technologies Company Profile
SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.
In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.
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