Investors Buy Large Volume of Call Options on SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the target of some unusual options trading on Monday. Stock investors purchased 20,055 call options on the company. This represents an increase of 43% compared to the average volume of 14,058 call options.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $56.77 on Wednesday. SolarEdge Technologies has a 52 week low of $53.59 and a 52 week high of $321.33. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.24 billion, a PE ratio of 126.16 and a beta of 1.51. The stock’s 50-day moving average price is $68.43 and its 200-day moving average price is $78.27.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. As a group, equities analysts expect that SolarEdge Technologies will post -4.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SEDG. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 price target on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. TD Cowen dropped their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $98.38.

Insider Buying and Selling at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in SolarEdge Technologies in the 3rd quarter worth about $25,000. Manchester Capital Management LLC boosted its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. GAMMA Investing LLC acquired a new stake in SolarEdge Technologies in the 4th quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after buying an additional 183 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in SolarEdge Technologies by 1,066.7% in the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock worth $50,000 after buying an additional 640 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.