Impax Asset Management Group plc Sells 481,707 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Impax Asset Management Group plc lessened its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 52.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 440,255 shares of the semiconductor company’s stock after selling 481,707 shares during the period. Impax Asset Management Group plc’s holdings in SolarEdge Technologies were worth $5,987,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd lifted its stake in shares of 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 valued at $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd bought a new position in SolarEdge Technologies during the fourth quarter worth about $61,000. KBC Group NV lifted its stake in SolarEdge Technologies by 95.8% during 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. GAMMA Investing LLC lifted its stake in SolarEdge Technologies by 655.2% during 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 lifted its stake in SolarEdge Technologies by 243.6% during 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. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

SEDG opened at $18.46 on Tuesday. The company has a fifty day moving average price of $14.71 and a two-hundred day moving average price of $17.12. 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 52 week low of $10.24 and a 52 week high of $78.40. The firm has a market capitalization of $1.07 billion, a PE ratio of -0.59 and a beta of 1.56.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on shares of SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Northland Securities cut shares of SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target for the company. in a research note on Thursday, February 20th. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised their price target on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.65.

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.