Jump Financial LLC Acquires 115,907 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Jump Financial LLC raised its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 69.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 282,605 shares of the semiconductor company’s stock after acquiring an additional 115,907 shares during the quarter. Jump Financial LLC owned about 0.49% of SolarEdge Technologies worth $3,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEDG. Millstone Evans Group LLC acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp increased its stake in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd increased its stake in shares of SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd bought a new stake in shares of SolarEdge Technologies during the fourth quarter worth $61,000. Finally, GAMMA Investing LLC lifted its stake in shares of SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 1.6 %

Shares of SEDG stock opened at $12.49 on Thursday. The firm’s fifty day moving average price is $15.72 and its two-hundred day moving average price is $15.33. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $64.04. The firm has a market capitalization of $734.20 million, a P/E ratio of -0.40 and a beta of 1.63.

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Royal Bank of Canada boosted their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $11.00 to $18.00 in a report on Thursday, February 20th. BMO Capital Markets downgraded SolarEdge Technologies from a “market perform” rating to an “underperform” rating and increased their price target for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Finally, Truist Financial decreased their price objective on SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.53.

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.