Vontobel Holding Ltd. Trims Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vontobel Holding Ltd. lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 20.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 78,558 shares of the semiconductor company’s stock after selling 20,058 shares during the period. Vontobel Holding Ltd.’s holdings in SolarEdge Technologies were worth $1,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV grew its holdings 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 purchasing an additional 1,378 shares during the period. Y.D. More Investments Ltd grew its holdings in SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 2,770 shares during the period. R Squared Ltd purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $61,000. GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the period. Finally, US Bancorp DE grew its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen cut their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. UBS Group cut their price target on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, January 7th. Glj Research upgraded shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, Truist Financial cut their price target on shares of SolarEdge Technologies from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.84.

SolarEdge Technologies Stock Up 3.5 %

SEDG opened at $16.93 on Wednesday. The company has a market capitalization of $981.09 million, a PE ratio of -0.58 and a beta of 1.56. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $84.69. The firm’s 50 day simple moving average is $14.30 and its two-hundred day simple moving average is $17.27. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

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.