Trexquant Investment LP Buys Shares of 17,719 SolarEdge Technologies, Inc. (SEDG)
Trexquant Investment LP bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,719 shares of the semiconductor company’s stock, valued at approximately $354,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sylebra HK Co Ltd increased its position in SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock worth $33,097,000 after buying an additional 412,073 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock worth $34,731,000 after buying an additional 305,179 shares in the last quarter. Menora Mivtachim Holdings LTD. boosted its stake in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock worth $28,880,000 after buying an additional 300,000 shares in the last quarter. Robecosam AG boosted its stake in shares of SolarEdge Technologies by 169.2% in the first quarter. Robecosam AG now owns 350,000 shares of the semiconductor company’s stock worth $5,425,000 after buying an additional 220,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of SolarEdge Technologies by 502.4% in the first quarter. Bank of New York Mellon Corp now owns 217,763 shares of the semiconductor company’s stock worth $3,396,000 after buying an additional 181,615 shares in the last quarter. 58.32% of the stock is owned by institutional investors and hedge funds.
Shares of SolarEdge Technologies, Inc. (NASDAQ SEDG) opened at 27.45 on Thursday. SolarEdge Technologies, Inc. has a 1-year low of $11.35 and a 1-year high of $28.80. The firm has a market cap of $1.16 billion, a PE ratio of 24.34 and a beta of 0.04. The stock’s 50 day moving average is $23.39 and its 200-day moving average is $17.95.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.18. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Analysts expect that SolarEdge Technologies, Inc. will post $1.84 earnings per share for the current year.
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A number of analysts have commented on SEDG shares. ValuEngine cut shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of SolarEdge Technologies from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research note on Thursday, July 20th. BidaskClub cut shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. FBR & Co reiterated a “market perform” rating and issued a $50.00 price target (up previously from $17.00) on shares of SolarEdge Technologies in a research note on Thursday, May 11th. Finally, TheStreet upgraded shares of SolarEdge Technologies from a “d” rating to a “c” rating in a research note on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $23.11.
In related news, Director Doron Inbar sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the transaction, the director now directly owns 223,333 shares of the company’s stock, valued at approximately $6,253,324. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director More Avery sold 20,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $19.30, for a total transaction of $386,000.00. The disclosure for this sale can be found here. Insiders sold a total of 164,018 shares of company stock worth $4,157,847 over the last three months. 16.40% of the stock is owned by insiders.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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