Traders Purchase High Volume of Call Options on SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the recipient of unusually large options trading on Tuesday. Traders purchased 22,905 call options on the stock. This is an increase of approximately 29% compared to the average volume of 17,767 call options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded SolarEdge Technologies from a “sell” rating to a “buy” rating and boosted their price target for the company from $10.00 to $19.00 in a report on Tuesday. Barclays dropped their target price on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. Roth Mkm lowered their target price on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Citigroup decreased their price target on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Glj Research reaffirmed a “sell” rating and set a $3.90 price target on shares of SolarEdge Technologies in a report on Friday, November 29th. Eight analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.40.

Insider Buying and Selling

In related news, Chairman More Avery acquired 156,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of SolarEdge Technologies

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of SolarEdge Technologies by 798.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 197,679 shares of the semiconductor company’s stock valued at $4,993,000 after buying an additional 175,671 shares during the last quarter. Louisiana State Employees Retirement System grew its position in SolarEdge Technologies by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 700 shares in the last quarter. Slow Capital Inc. increased its stake in shares of SolarEdge Technologies by 15.6% during the 2nd quarter. Slow Capital Inc. now owns 45,861 shares of the semiconductor company’s stock worth $1,158,000 after purchasing an additional 6,180 shares during the last quarter. Bank of New York Mellon Corp increased its position in SolarEdge Technologies by 23.7% during the second quarter. Bank of New York Mellon Corp now owns 357,830 shares of the semiconductor company’s stock worth $9,039,000 after buying an additional 68,444 shares during the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in SolarEdge Technologies by 33.1% during the second quarter. Meitav Investment House Ltd. now owns 531,044 shares of the semiconductor company’s stock valued at $13,412,000 after buying an additional 132,068 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $14.37 on Wednesday. SolarEdge Technologies has a one year low of $10.24 and a one year high of $103.15. The company has a 50-day moving average of $15.08 and a two-hundred day moving average of $23.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The stock has a market cap of $832.74 million, a price-to-earnings ratio of -0.49 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. On average, equities research analysts expect that SolarEdge Technologies will post -19.18 earnings per share for the current year.

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.