Mizuho Markets Americas LLC Grows Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mizuho Markets Americas LLC grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 653.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,340 shares of the semiconductor company’s stock after buying an additional 163,340 shares during the period. Mizuho Markets Americas LLC’s holdings in SolarEdge Technologies were worth $4,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. KBC Group NV grew its position in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 1,378 shares in the last quarter. GSA Capital Partners LLP lifted its position in SolarEdge Technologies by 105.9% in the third quarter. GSA Capital Partners LLP now owns 28,196 shares of the semiconductor company’s stock worth $646,000 after buying an additional 14,503 shares during the last quarter. M&G PLC increased its position in SolarEdge Technologies by 4.2% during the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock valued at $21,452,000 after acquiring an additional 38,001 shares during the last quarter. Harvest Portfolios Group Inc. bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth about $353,000. Finally, Van ECK Associates Corp grew its holdings in SolarEdge Technologies by 12.1% during the 3rd quarter. Van ECK Associates Corp now owns 78,635 shares of the semiconductor company’s stock valued at $1,802,000 after purchasing an additional 8,490 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Down 17.1 %

SEDG opened at $10.64 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies, Inc. has a 12-month low of $10.55 and a 12-month high of $103.15. The firm has a 50 day moving average of $18.19 and a two-hundred day moving average of $29.11.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same period last year, the business earned ($1.03) EPS. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post -17.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman More Avery purchased 156,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SEDG shares. Piper Sandler downgraded SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. Susquehanna dropped their target price on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Roth Mkm lowered their price target on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada lowered their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Finally, Glj Research lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $22.79.

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.