SolarEdge Technologies, Inc. $SEDG Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 87.9% in the second quarter, Holdings Channel reports. The firm owned 278,540 shares of the semiconductor company’s stock after selling 2,025,249 shares during the period. Russell Investments Group Ltd.’s holdings in SolarEdge Technologies were worth $5,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. U.S. Capital Wealth Advisors LLC purchased a new stake in SolarEdge Technologies during the 2nd quarter valued at about $204,000. Bayforest Capital Ltd raised its stake in shares of SolarEdge Technologies by 49.8% in the second quarter. Bayforest Capital Ltd now owns 85,461 shares of the semiconductor company’s stock worth $1,743,000 after purchasing an additional 28,425 shares during the last quarter. Phoenix Financial Ltd. acquired a new stake in shares of SolarEdge Technologies during the second quarter worth about $216,000. Nuveen LLC purchased a new stake in SolarEdge Technologies in the first quarter valued at approximately $1,092,000. Finally, Bank Hapoalim BM increased its holdings in SolarEdge Technologies by 73.5% in the 2nd quarter. Bank Hapoalim BM now owns 70,475 shares of the semiconductor company’s stock worth $1,438,000 after buying an additional 29,859 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $29.52 on Friday. The firm has a market cap of $1.77 billion, a PE ratio of -3.05 and a beta of 1.67. SolarEdge Technologies, Inc. has a twelve month low of $11.00 and a twelve month high of $48.60. The company has a quick ratio of 1.60, a current ratio of 2.28 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $36.67 and a 200 day moving average price of $29.77.

Analyst Upgrades and Downgrades

SEDG has been the topic of several recent research reports. Oppenheimer reaffirmed a “market perform” rating on shares of SolarEdge Technologies in a report on Monday, August 11th. Morgan Stanley lifted their price objective on SolarEdge Technologies from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. The Goldman Sachs Group upped their target price on SolarEdge Technologies from $27.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. TD Cowen raised their target price on SolarEdge Technologies from $26.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, November 6th. Finally, Susquehanna boosted their price target on SolarEdge Technologies from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, SolarEdge Technologies has a consensus rating of “Reduce” and an average target price of $24.62.

SolarEdge Technologies Company 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.