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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) saw some unusual options trading on Tuesday. Stock traders purchased 22,905 call options on the company. This is an increase of 29% compared to the average daily volume of 17,767 call options.

Insider Activity

In related news, Chairman More Avery purchased 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On SolarEdge Technologies

Several large investors have recently modified their holdings of SEDG. Yelin Lapidot Holdings Management Ltd. increased its holdings in SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 564 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of 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 valued at $727,000 after buying an additional 700 shares during the period. Bank Hapoalim BM raised its position in shares of SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock worth $769,000 after acquiring an additional 812 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of SolarEdge Technologies in the second quarter worth approximately $28,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in SolarEdge Technologies by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 3.7 %

Shares of SEDG stock opened at $13.84 on Thursday. SolarEdge Technologies has a twelve month low of $10.24 and a twelve month high of $103.15. The stock’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $22.85. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $802.03 million, a P/E ratio of -0.48 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results 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 the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business’s revenue for the quarter was down 64.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.03) earnings per share. As a group, sell-side analysts predict that SolarEdge Technologies will post -19.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Roth Mkm dropped 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. Morgan Stanley reiterated an “underweight” rating and set a $9.00 price objective (down previously from $23.00) on shares of SolarEdge Technologies in a research report on Friday, November 15th. Truist Financial decreased their price target on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Susquehanna dropped their price objective on shares of SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upgraded shares of SolarEdge Technologies from a “sell” rating to a “buy” rating and increased their target price for the stock from $10.00 to $19.00 in a research report on Tuesday. Eight research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.40.

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.