SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman More Avery Acquires 30,000 Shares

SolarEdge Technologies, Inc. (NASDAQ:SEDG) Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This represents a 12.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded up $0.03 during trading on Thursday, reaching $15.62. The company’s stock had a trading volume of 1,138,676 shares, compared to its average volume of 4,022,723. The firm has a market cap of $918.25 million, a price-to-earnings ratio of -0.50 and a beta of 1.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $78.41. The firm has a 50 day moving average of $15.01 and a 200-day moving average of $16.87.

Analysts Set New Price Targets

Several research firms have recently weighed in on SEDG. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Guggenheim upgraded SolarEdge Technologies from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Canaccord Genuity Group raised their target price on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Truist Financial lowered their price objective on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Thursday, January 16th. Finally, Northland Capmk downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $21.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. AMG National Trust Bank purchased a new position in shares of SolarEdge Technologies in the third quarter worth about $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after buying an additional 220,304 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in SolarEdge Technologies by 653.4% during the third quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after buying an additional 163,340 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth approximately $227,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after buying an additional 564,490 shares during the period. Institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

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.