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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) was the target of some unusual options trading on Tuesday. Investors acquired 18,109 call options on the stock. This is an increase of approximately 31% compared to the average daily volume of 13,797 call options.

SolarEdge Technologies Trading Up 2.8 %

Shares of SEDG stock opened at $14.78 on Thursday. The stock has a market cap of $872.54 million, a price-to-earnings ratio of -0.47 and a beta of 1.50. 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 has a 52-week low of $10.24 and a 52-week high of $58.54. The firm has a fifty day moving average of $14.54 and a 200-day moving average of $14.64.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.12. The company had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.90) EPS. On average, equities research analysts forecast that SolarEdge Technologies will post -4.54 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the acquisition, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.67% of the company’s stock.

Institutional Trading of SolarEdge Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its position in SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 790 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies during the 4th quarter worth $27,000. Jones Financial Companies Lllp increased its stake in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 1,954 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares during the period. Finally, R Squared Ltd bought a new position in SolarEdge Technologies in the fourth quarter valued at about $61,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Roth Mkm increased their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. BMO Capital Markets cut shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $13.00 to $15.00 in a report on Thursday, February 20th. Jefferies Financial Group dropped their price objective on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada boosted their price target on shares of SolarEdge Technologies from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a research note on Wednesday. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.52.

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.